Tarsus Group PLC Interim Management Statement (0587S)

TIDMTRS

RNS Number : 0587S

Tarsus Group PLC

04 November 2013

4 November 2013

Tarsus Group plc

Interim Management Statement

Tarsus Group plc ('Tarsus', the 'Group' or 'Company'), the international business-to-business media group, is today publishing its Interim Management Statement for the period 1 July 2013 to 3 November 2013.

Overview

We continue to concentrate on the execution of our "Quickening the Pace" strategy, focusing on earnings per share growth, by investing in and strengthening our core businesses, in particular driving organic growth and adding value to our key brands through continuous innovation.

Forward bookings across the portfolio are strong and are currently 12% ahead of 2012 on a like-for-like basis adjusting for acquisitions and biennial events. Management remain confident of an excellent result for 2013.

Trading

Labelexpo Europe, the Group's second largest event, took place in September in Brussels. It produced a like-for-like revenue increase of 11% and achieved excellent visitor attendance, improving 11% compared with its 2011 edition, outperforming all previous editions. Re-bookings for the 2015 exhibition of 86% were secured and on-site sales for other Labels events were strong.

Zuchex, the annual international housewares and gift exhibition, was held in Istanbul in September and produced an excellent performance. The Group is in the process of replicating Zuchex into new high growth markets, having already announced an event to be held in Jakarta in 2014.

Revenues in the Group's Chinese joint venture Hope, continue to grow strongly at double digit rates.

The August edition of Off-Price, the discount clothing and accessories event held in Las Vegas, delivered a solid performance.

The Medical division continues to perform in-line with the Board's expectations. Bookings for the division's largest event, to be held in December in Las Vegas, are tracking ahead of its previous edition.

Trading in the Group's French portfolio of events was in line with the Board's expectations.

Outlook

The Dubai Airshow, the Group's largest event and one of the fastest growing Airshows in the world, will be held later this month. Forward bookings are strong and the event is on track to be a record. In partnership with the Dubai Airports Corporation, the Airshow will be held in a new purpose-built venue at Dubai World Central. This world class facility will provide the industry with a unique window on the global aviation sector. The forthcoming show will be an important milestone in the development of the Dubai Airshow as the global meeting place for the aerospace sector.

Sign Istanbul and Flower Show Istanbul, will both take place at the end of this month. Both events are performing ahead of their previous editions.

Labelexpo Asia will be held in December in Shanghai and is expected to achieve an excellent result with sales tracking ahead of its previous edition.

Financial position

There have been no significant changes to the financial position of the Group since the publication of the interim results on 31 July 2013.

Douglas Emslie, Tarsus Group Managing Director, said:

"We are very much on track with the execution of our Quickening the Pace strategy and the Group has delivered good performances across the major brands, Zuchex, Labelexpo and Offprice.

"We expect to see a record performance from the Dubai Airshow later this month at its new larger purpose-built venue at Dubai World Central. We are making good progress with our strategy of replicating our market leading brands into new territories.

"In light of strong performances by our flagship brands, we remain confident of an excellent result for 2013."

The Group expects to publish a year end trading update on 8 January 2014.

Tarsus is hosting a Capital Markets Seminar for analysts and investors later today. The event will provide information on the Group's Labels division and will feature a panel of key customers, who will provide insights into the value of the Labelexpo series of exhibitions. No new material information will be made available.

For further information:

 
 Tarsus Group plc: 
 Douglas Emslie, Group Managing Director    020 8846 2700 
 Dan O'Brien, Group Finance Director 
 
 College Hill: 
 Kay Larsen / Adrian Duffield               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, India and South America.

This information is provided by RNS

The company news service from the London Stock Exchange

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