CentralNic’s H123 results showed continuing revenue growth and margin expansion, with growth now being driven more organically and across both operating segments. Partnerships could be key to unlocking growth from underutilised brands, with management winning several notable deals during the period. Our operational forecasts remain unchanged, with increases in EPS and net debt reflecting the recent £30m uplift to the share buyback programme.
We believe that the current rating does not reflect the company’s cash generative mode and diverse growth prospects.
Organic business refined and driving growth
CentralNic’s H123 results were in line with the H1 update, reporting 18% revenue growth and margin expansion. On a pro-forma basis revenue was up c 31% organically over the last 12 months.
CentralNic Group Plc (LON:CNIC) is one of the world’s leading providers of internet infrastructure services. The company provide tools for those who wish to go beyond consuming internet content. CentralNic’s services are designed for those who seek to contribute, to communicate, to build, to promote and to earn online.
