TIDMTRS
RNS Number : 9493E
Tarsus Group PLC
17 May 2013
17 May 2013
TARSUS GROUP plc
Interim Management Statement
Strong start to 2013
Tarsus Group plc (LSE: TRS, "Tarsus" or the "Group"), the
international business-to-business media group, is today publishing
its Interim Management Statement for the period from 1 January 2013
to 16 May 2013.
Overview
Successful completion of the Group's "Project 50/13" strategy
has provided the business with a strong foothold in growth
economies. The "Quickening the Pace" strategy, launched early in
2013, is now building momentum as Tarsus focuses on accelerating
earnings per share growth by leveraging and developing its market
leading portfolio of events in high growth economies and
sectors.
Revenues are heavily weighted towards the second half of the
year owing to the timing of exhibitions. Trading for this smaller
period has been positive and remains in line with the Board's
expectations and revenues are up 9% on a like for like basis on
last year.
Forward bookings for the year to 31 December 2013 are tracking
11% ahead of last year (as adjusted for biennial events and
acquisitions). Bookings for the Group's two largest events, the
Dubai Airshow and Labelexpo Europe, are currently well ahead of
their previous editions.
Emerging markets
The Group's emerging markets businesses continue to gain
momentum through a combination of strong revenue growth and the
successful integration of recent acquisitions.
In the period, a number of events were held in the Middle East
and China which all demonstrated good performances and, very
encouragingly, across the board visitor attendance at all these
events was well ahead of the previous editions.
In Turkey, Life Media and CYF each held the smaller of their two
annual shows in the period and recorded good performances. IFO held
its biennial lift show Asansor, its first under Tarsus ownership,
producing an excellent performance with revenues up significantly
on the 2011 edition.
The Dubai Airshow, one of the Group's largest events in 2013,
will be held in November and currently is seeing strong sales.
US
The Medical division continues to grow well. This has been
driven by its education programmes, including those now delivered
online. The Medical division's remaining 2013 order book is
building well.
The February 2013 Off-Price event in Las Vegas performed well,
with revenues up 6%. Bookings for the August 2013 Off-Price event
in Las Vegas are tracking ahead of the 2012 edition.
Europe
Trading in the Group's French division has been in line with the
Board's expectations and at a similar level to that achieved during
this trading period in 2012. The Board retains its conservative
expectations for the full year for this division.
Labelexpo Europe, the Group's other large event in 2013, will be
held in September and is experiencing strong sales.
Acquisitions
In January, Tarsus acquired a majority stake in Indonesian
exhibitions group PT Infrastructure Asia ("PTIA"), which owns and
organises three annual business-to-business exhibitions and one
seminar series in Indonesia in the infrastructure, TMT and security
sectors. This has provided Tarsus with an important hub in the fast
growing Indonesian exhibition market, in line with its Quickening
the Pace strategy launched at the beginning of the year.
Financial Position
Save for deferred considerations payments in respect of GZ Auto
and Life Media paid in line with expectations amounting to
approximately GBP15 million in aggregate, there have been no
significant changes to the financial position of the Group since
the publication of the Annual Results on 6 March 2013.
Douglas Emslie, Tarsus Group Managing Director, said:
"We have made a good start in 2013 and are experiencing strong
momentum and sales progress, on the back of the successful
completion of our Project 50/13 strategy to significantly expand
our footprint in emerging markets.
"We now have a high quality portfolio addressing growth markets
in fast growing economies worldwide. In line with our "Quickening
the Pace" initiative we are focussed on driving visitor traffic and
growing exhibition volumes as we seek to maximise the benefits of
our unique and diversified portfolio and accelerate earnings
growth.
"In addition, the Group's largest events in the second half of
this year, the Dubai Airshow and Labelexpo Europe, are both
experiencing strong sales momentum. We are increasingly confident
we can deliver an excellent outcome for 2013."
The Group expects to publish its interim results for the six
months ending 30 June 2013 on 31 July 2013.
For further information:
Tarsus Group plc:
Douglas Emslie, Group Managing Director 020 8846 2700
Dan O'Brien, Group Finance Director
College Hill:
Adrian Duffield /Kay Larsen 020 7457 2020
Notes to editors
Tarsus Group plc (LSE:TRS) is an international
business-to-business media group with interests in exhibitions,
publishing and online media. The Group operates globally in key
verticals including aviation, medical, labels and packaging,
discount clothing (Off-Price), housewares and automotive. Tarsus
runs more than 80 events and websites and its flagship brands
include the Labelexpo exhibitions in Europe, the Americas, India
and Asia and the Dubai Airshow.
The Group operates across a worldwide network of offices in
Dublin, London, Paris, Milwaukee, Boca Raton (Florida), Dubai,
Shanghai, Jakarta, New Delhi and Istanbul. Tarsus is building on
its strong presence in the emerging markets of the Middle East,
China, Turkey, Indonesia, India and South America.
www.tarsus.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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