News, Culture & Society

MIDAS SHARE TIPS UPDATE: CentralNic has soared

MIDAS SHARE TIPS UPDATE: Our domain names tip CentralNic has soared

Look back two decades and most people managed quite happily without the internet. Now more than half the world uses it and, once they start, they can’t stop. 

The internet is not just addictive, it has spawned a wealth of industries, from companies owning and selling website names to firms buying and selling advertisements online, to e-commerce and email management. 

Collectively, these industries are worth hundreds of billions of pounds and CentralNic, a London-based AIM business, sits in the middle of them. 

Midas recommended CentralNic in 2017, when the shares were 52p. Last week, the stock closed at 81p after boss Ben Crawford unveiled a 121 per cent surge in sales to $241million (£172million) with profits up substantially too. 

CentralNic is behind the complex plumbing that allows companies to create websites, use email and sell their wares online. The group operates across the world, with a particular strength in emerging markets. 

Crawford recently moved into a new niche sector – placing advertisements on disused websites that web surfers might stumble across when they browse the internet. 

A closed-down pet shop, for example, may still appear online. But when visitors click on the site, it will now feature advertisements for local vets.

Midas verdict: CentralNic has expanded rapidly both organically and through acquisition. Cautious investors may want to sell out at 81p, but Crawford is keen to continue at pace. Fast growth always presents some risks, but provided Crawford keeps a firm grip on the tiller, this stock should continue to deliver. 

Traded on: AIM Ticker: CNIC Contact: centralnicgroup.com or 020 3388 0600 



Read more at DailyMail.co.uk