TIDMTRS
RNS Number : 5078L
Tarsus Group PLC
12 January 2016
12 January 2016
Tarsus Group plc
Year-end trading update
Overview
Tarsus Group plc (LSE: TRS, "the Group", "Tarsus"), the
international business-to-business media group, enjoyed a strong
finish to the year achieving record revenues and profits. Group
like-for-like revenue growth, at constant exchange rates, increased
by approximately 10%. The Board anticipates that results for the
year ended 31 December 2015 will be in line with its expectations.
The outlook for 2016 is positive.
Trading
The Group held a number of its key events since the issue of its
Trading Update on 26 October 2015. The Group's largest event, the
Dubai Airshow, continued its record of strong revenue growth and
achieved buyer growth of 9%. The Flower Show (Turkey - landscaping
equipment and services) and Labelexpo Asia, both registered good
performances.
Our AMB JV, formed during 2015, held two events in Myanmar.
Myanfood/Hotel (November) and Myanbuild/Myanenergy (December) both
performed well and in line with the Board's acquisition case.
In the US, the World Anti-Aging Congress (Medical) in Las Vegas
saw trading in line with management expectations with growth in
both revenue and buyers.
Strategy
We continue to concentrate on the execution of our "Quickening
the Pace" strategy, which is focused on accelerating the financial
returns to shareholders through providing expanded opportunities
for our customers in growth markets. Delivery is focused on three
areas:
-- Increasing exhibitor numbers and buyer attendance, thereby
increasing the returns on existing assets
-- Geographical replication of major brands into fast growing markets
-- Small bolt on acquisitions in selected geographies
Strategic achievements in 2015 were:
- Visitor growth across the portfolio was 9% - well ahead of the Group's KPI of 5%.
- 15 brand replications including taking GESS (Education
Services) into Mexico and Indonesia and the addition of three
events in the US to the Cardiometabolic Health Congress series.
- The acquisition of 50% of AMB which substantially widened the
Group's geographic coverage in South-East Asia by adding Malaysia,
Myanmar, Cambodia and the Philippines to the Group's Indonesian
base.
- In Indonesia our IIICE event (infrastructure) is benefiting
from our investment in marketing thus driving strong buyer
attendance. We are continuing to invest in this product to address
the fast growing Indonesian market.
- The acquisition of PAINWeek in the US completed the footprint
of the Group's Medical Division in the four main sectors of the US
preventative medicine market - neurology, endocrinology,
cardiovascular and oncology.
- The disposal of the Group's French business in line with our
overall strategy to concentrate resources on economies offering the
best opportunity for growth.
We have continued our work to reposition the Medical Division to
address the larger mainstream medical market. We have also expanded
and diversified the revenue base to cover all four pillars of the
preventative medicine market. We are encouraged by the growth of
our larger medical events and our online educational revenues.
Outlook
Forward bookings for the Group's major events in 2016 are
encouraging and, across the portfolio, are tracking 10%+ ahead on a
like-for-like basis. Whilst we are early in the year the outlook
for 2016 is positive.
Douglas Emslie, Tarsus Group Managing Director, said:
"We have finished the year well with strong performances from
our key shows in the fourth quarter and record revenue and profits
for the year. Our flagship biennial events, the Dubai Airshow and
Labelexpo Europe both achieved record rebooks for their 2017
editions.
"In line with our Quickening the Pace strategy we have achieved
industry leading organic growth through our focus on delivering
larger numbers of buyers to our exhibitors. Our accelerated
programme of brand replications will continue in 2016 progressively
adding to our growth. This strong performance allows us to continue
our progressive dividend strategy.
"Against our strategic achievements in 2015 and forward bookings
for 2016 we remain confident of delivering another year of good
performance and progress."
The Group expects to announce its final results for the year
ended 31 December 2015 on 2 March 2016.
The Company will be hosting a presentation to analysts at
11.00am today at the offices of Investec Bank plc at 2 Gresham
Street, London EC2V 7QP. No new material information will be made
available.
For further information:
Tarsus Group plc:
+44 (0)20 8846
Douglas Emslie, Group Managing 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 90 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, Milwaukee, Boca Raton (Florida), Dubai, Shanghai,
Jakarta, Kuala Lumpur and Istanbul. Tarsus is building on its
strong presence in the emerging markets of the Middle East, China,
Turkey, South East Asia and Mexico.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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