Trading Statement (9725Y)

TIDMTRS

RNS Number : 9725Y

Tarsus Group PLC

06 January 2011

6 January 2011

Tarsus Group plc

Trading Update

Tarsus Group plc ('Tarsus' or 'the Group'), the international business-to-business media group, expects 2010 full year adjusted pre-tax profits to be comfortably in line with the Board's expectations.

Group like-for-like organic revenue growth for the year to 31 December 2010 has seen an increase of approximately 6%, excluding any benefit from currency movements.

Recent Trading

Trading since our last interim management statement (IMS) issued on 16 November 2010 has been as follows:

Emerging Markets

MEBA, the business jet show, took place in Dubai in December and produced results strongly ahead of the previous edition - revenues were up 40%, with visitors up 13%. MEBA, in just 5 years, has become the third largest business aviation event in the World. In addition to becoming a key sales platform for business aircraft manufacturers, service providers and suppliers to the Industry, MEBA is also now an important venue for signing major industry agreements. H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates, opened this year's show by signing an agreement to build a new business aviation terminal at the Al Maktoum International Airport in Dubai.

Labelexpo India took place in early December in Delhi. Revenues and visitors were up 22% and 27% respectively from its previous edition. The event saw a major increase in international exhibitors who delivered strong sales from the event. As a result, the rebooking for the 2012 edition has been exceptionally strong.

Europe

Trading in our French division (primarily Heavent and Educatec) has been in line with our reduced expectations. The portfolio continues to show signs of stabilisation and we were pleased to finish the year with Educatec which grew both its revenues and visitors.

Our medical division performed strongly with revenues for the year as a whole increasing by 18% - slightly ahead of our expectations. The final event of the year and our largest in the sector, was in Las Vegas in December; a record event with attendance up 10%. Education revenues grew strongly and our recently launched online education programme also continued to gain momentum.

Cashflow

Cashflow remained strong during the period with net debt at 31 December 2010 approximately GBP29 million - better than anticipated.

Outlook for 2011

The improving trends witnessed in Q4 2010 look set to run into 2011 as the Global Economy continues its slow recovery.

Within each two-year cycle, odd years are by far the larger in profit terms for the Group as they contain both Labelexpo Europe (in September) and the Dubai Airshow (in November). Bookings for both of these biennial events remain strong:

-- For Labelexpo, space sales are tracking ahead of the 2009 edition.

-- The Dubai Airshow sales pipeline is strong and, with an expanded venue, plans for which we anticipate being finalised in Q1 2011, we remain confident of good performance from this event.

There are two significant events in the first quarter of 2011 - the Off-Price Show in Las Vegas and the Mod'amont fashion accessories exhibition in Paris. Current indications are that both exhibitions will produce revenues ahead of the equivalent events in 2010.

The improving economic environment is impacting positively on our portfolio of events in the US and the Emerging Markets. France has traditionally benefited later in the economic cycle and the second half weighting of our portfolio in 2011 should be helpful. Encouragingly, forward bookings for 2011 are ahead of the previous cycle.

We remain committed to our long term strategy of increasing our exposure to Emerging Markets (Project 50/13) through organic initiatives and selected bolt-on acquisitions.

The Group expects to announce its preliminary results for the year to 31 December 2010 on 7 March 2011.

Tarsus Group plc:

Douglas Emslie, Group Managing Director

020 8846 2700

Ashley Milton, Group Finance Director

020 8846 2700

This information is provided by RNS

The company news service from the London Stock Exchange

END

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