TIDMTRS
RNS Number : 6551W
Tarsus Group PLC
11 November 2014
11 November 2014
Tarsus Group plc
Interim Management Statement
Tarsus Group plc (LSE: TRS 'Tarsus', the 'Group' or 'Company'),
the international business-to-business media group, is today
publishing its Interim Management Statement for the period 1 July
2014 to 10 November 2014.
Overview
The Group's trading in the third quarter was in line with our
expectations with key events performing well as we continue to
focus upon the implementation of our "Quickening the Pace"
strategy. The outlook for the 2014 full year remains in line with
management expectations with current like-for-like bookings 8%
ahead of 2013 (adjusted for biennial events). Given the current
geopolitical situation we retain a cautious view in the near term
although forward bookings for the Group's major events in 2015
remain strong.
Trading
Labelexpo Americas, the Group's largest event this year, took
place in September 2014 in Chicago. It produced a very good
performance with strong visitor attendance and record re-bookings
for the 2016 event.
Zuchex, the annual international housewares and gift exhibition
and Sign, the annual advertising and digital printing fair, were
both held in Istanbul in September 2014 and performed well. The
Group is in the process of replicating Zuchex into new high growth
markets and the first edition of the brand in Jakarta will take
place on 13-15 November 2014.
The August 2014 edition of Off-Price, the biannual discount
clothing and accessories event held in Las Vegas, again delivered a
solid result.
The first edition of the Cardiometabolic Health Congress
('CMHC') under the Group's ownership since its acquisition in
February 2014, took place in Boston in October 2014. The event was
very well attended and produced a performance in line with the
Group's acquisition case.
Developments
During the year the Group embarked on its stated strategy of
broadening its preventative medical education offering with the
launch of the Metabolic Medical Institute ('MMI'). The Group's
Medical Division separately announced today the acquisition of 100%
of the South Beach Symposium, a market leading event held annually
in Miami focusing on all aspects of dermatology along with a
shortly to be launched online education business. Both the event
and the planned new online education platform are complementary to
Tarsus' existing medical business and will accelerate MMI's move
into the mainstream medical market.
In July 2014 the Group acquired 60% of the 3D Printshow which
has growth opportunities in many territories and strong synergies
with the existing Tarsus portfolio. The first exhibitions under
Tarsus' ownership took place in London in September 2014 and Paris
in October 2014 and both were in line with management's
expectations.
Outlook
The key remaining events in 2014 are tracking in line with our
expectations. As previously announced, medical educational revenues
are tracking behind 2013 owing principally to the uncertainty
caused by Obamacare which has delayed investments by doctors in the
US. In the medium term, with the launch of MMI, this is expected to
be a positive driver for the preventative medicine market as
doctors seek to diversify their practices.
Our Chinese auto-aftermarket exhibition, AAITF, will move to
Shenzhen from Guangzhou in 2015 and the Group continues to invest
in its future growth. The major 2015 biennial events, in particular
Labelexpo Europe and the Dubai Airshow, are tracking well ahead of
their previous editions. However, given the current geopolitical
environment we are planning cautiously for 2015.
Financial position
There have been no significant changes to the financial position
of the Group since the publication of the interim results on 30
July 2014.
Douglas Emslie, Tarsus Group Managing Director, said:
"We have had a very good third quarter with strong performances
across the major brands: Zuchex, Sign, Labelexpo and Offprice. We
expect solid performances from our remaining shows in 2014 and the
Group remains confident of delivering a good performance for the
full year.
"We continue to drive our "Quickening the Pace" strategy through
organic growth, brand replications and small acquisitions that
accelerate our strategic goals. We are increasingly differentiating
ourselves from our peers by focusing on markets in transition and
on six key geographical areas: US, China, South East Asia, Dubai,
Turkey and Mexico."
The Group expects to publish a trading update for the year ended
31 December 2014 on 9 January 2015.
Tarsus is hosting a Capital Markets Seminar for analysts and
investors later today to be held at Skinners Hall, 8 1/2 Dowgate
Hill, London EC4R 2SP at 4pm. The event will provide information on
the Group's Medical division with an overview of the market and the
Group's divisional strategy. No new material information will be
made available.
For further information:
Tarsus Group plc:
Douglas Emslie, Group Managing +44 (0)20 8846
Director 2700
Dan O'Brien, Group Finance Director
IR Focus +44 (0)79 0997
Neville Harris, Investor Relations 6044
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 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 and Mexico.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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