Currency in GBP
Last close As at 06/02/2023
▲ 3.50 (2.46%)
CentralNic’s two divisions help businesses go online: Online Presence (reseller, corporate and SME) and Online Marketing. Services include domain name reselling, hosting, website building, security certification and website monetisation.
Online Marketing is CNIC’s largest and fastest growing division, with its privacy-focused targeted advertising platform providing strong scope to capture market share. In FY22, the global Online Marketing market generated revenues of $616bn, growing 15% y-o-y, highlighting the significant opportunity for the company. The Online Presence market, its other area of operations, grew at a slower rate and reported $60bn in total revenues.
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CentralNic (CNIC) had a transformative FY22, ending the year with CEO Ben Crawford’s retirement from the CNIC board, with group CFO Michael Riedl appointed as his successor. Alongside this management change, the company is reviewing cash flow deployment within the business and expects to have a greater focus on returns to shareholders versus M&A, which it began with a £4m share buyback programme launched on 30 December. We have upgraded our FY22 and FY23 revenue and profit forecasts to reflect these recent announcements, as well as the group’s strong trading.
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