TRS Tarsus Group Plc

 

TIDMTRS 
 
RNS Number : 2298W 
Tarsus Group PLC 
16 November 2010 
 

 
16 November 2010 
 
 
                                TARSUS GROUP plc 
 
                          Interim Management Statement 
 
Tarsus Group plc ("Tarsus" or "the Group"), the international 
business-to-business media group, today publishes its Interim Management 
Statement covering the period from its Interim Results on 28 July to 15 November 
2010. 
 
Trading Performance 
 
Trading for the period has been in line with the Board's expectations.  A 
summary of the more significant developments during the period includes: 
 
Labelling 
 
Labelexpo Americas in September was the most successful show for our customers 
in the last ten years.  Whilst spend by exhibitors was some 7% lower than the 
previous show, the number of companies taking space remained constant and 
visitor numbers were up 5%.  Strong customer sales generated at the event 
resulted in a very encouraging re-book rate of 83%, providing Tarsus with a high 
level of visibility for the next edition in 2012. 
 
Labelexpo South China, an event launched in Guangzhou in October, was profitable 
at its first edition and complements Labelexpo Asia which takes place in 
Shanghai in 2011. Labelexpo India, which will take place in New Delhi in 
December, has also seen strong demand. 
 
Discount Clothing 
 
Our Off-Price clothing exhibition in Las Vegas in August performed well, 
demonstrating the growth of the discount channel in a challenging economic 
environment.  Revenues were up 10% on the same event last year and forward 
visibility is strong, with our highest ever re-book rate for the next event in 
February 2011. 
 
Medical 
 
The Medical division, which comprises 23 events, continued to show double digit 
growth.  This growth is increasingly being driven by the educational component 
and our recently launched online offerings. The next major event takes place in 
Las Vegas in December 2010. 
 
Aviation 
 
MEBA, our business jets show, takes place in December 2010 in Dubai.  MEBA has 
established itself as the key event in the region for generating orders in this 
fast growing sector and bookings remain well ahead of the previous edition. We 
have recently entered into an agreement with the Abu Dhabi Tourist Authority to 
run the prestigious Al Ain Aerobatic Show which takes place annually in 
February. 
 
 France 
 
The French portfolio which is heavily second half weighted continues to show 
signs of stabilisation although recent political disturbances have disrupted 
attendances at events and may delay recovery. 
 
Financial Position 
 
New committed bank facilities comprising GBP40 million of both fixed and 
revolving credit facilities were put in place in September and run to the end of 
2013. 
 
Trading cash flows remain strong despite being slightly impacted by delays in 
the expansion of the Dubai Airport exhibition facility which is scheduled to 
come on stream in Q1 2011. 
 
 
Outlook 
 
The improving economic environment is beginning to impact positively on our 
portfolio of events in the US and the emerging markets. France has traditionally 
benefited later in the cycle and the second half weighting of our portfolio in 
2011 should be helpful. 
 
We remain committed to our long term strategy of increasing our exposure to 
emerging markets (Project 50/13) through organic initiatives and selective 
bolt-on acquisitions. 
 
 
Tarsus Group plc: 
 
Douglas Emslie, Group Managing Director 
    020 8846 2700 
Ashley Milton, Group Finance Director 
       020 8846 2700 
 
Media: 
 
Madano Partnership 
Matthew Moth 
                 020 7593 4000 
 
Investors/Analysts: 
 
Scott Harris 
Stephen Scott, Jeremy Wiseman 
       020 7653 0030 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IMSKKPDNDBDBKDD 
 

Tarsus (LSE:TRS)
Historical Stock Chart
From Jun 2024 to Jul 2024

Tarsus (LSE:TRS)
Historical Stock Chart
From Jul 2023 to Jul 2024