Tarsus Group PLC Trading Update (2790M)
October 12 2016 - 2:00AM
UK Regulatory
TIDMTRS
RNS Number : 2790M
Tarsus Group PLC
12 October 2016
12 October 2016
Tarsus Group plc
Trading update
Trading in-line; strong 2017 major event forward bookings
Tarsus Group plc (LSE: TRS, "Tarsus" or the "Group"), the
international business-to-business media group, today provides a
trading update on the current financial year to date.
The Group's trading in the second half to date has been in line
with our expectations with key events performing well. The outlook
for 2016 as a whole remains in line with management expectations
with current like-for-like bookings 8% ahead and buyer growth 7%
ahead of 2015 (adjusted for biennial events). Forward bookings for
the Group's major events in 2017 remain strong.
United States
The 15(th) edition of Labelexpo Americas, the Group's largest
event this year, took place in September 2016 in Chicago. It
produced an excellent performance with visitor attendance 8% higher
than the previous edition in 2014 and a very strong rebook for the
2018 event.
The August 2016 edition of Off-Price, the discount clothing and
accessories event held in Las Vegas, was slightly down on 2015 as a
result of taking place over a religious holiday weekend.
Our medical division is making steady progress this year,
continuing the return to growth for the business as a whole. The
PAINWeek event held in Las Vegas in September 2016 performed
strongly driven by new pain drug releases by pharmaceutical
companies. The Cardiometabolic Health Congress held in Boston in
October 2016 performed more slowly than in 2015 owing to a weaker
drug development pipeline affecting that sector.
Emerging Markets
In Turkey buyer attendance has been very robust despite the
political uncertainty in the country. The strong domestic economy
has helped deliver an excellent performance at one of our major
events, Zuchex, the international housewares and gift exhibition
held in Istanbul in September 2016, which saw strong revenue
growth. Sign (held in Istanbul in October 2016), the advertising
and digital printing fair, produced a solid performance with good
visitor growth.
The development of our growing South-East Asian portfolio
continues to be encouraging. The replication of GESS (Indonesia) -
in its 2(nd) edition - showed excellent progress.
Outlook
The key remaining events for 2016 are tracking in line with our
expectations. Forward bookings for the Group's major events in 2017
remain strong. In particular, forward bookings for the Group's
Turkish events for the important first half of 2017 are in line
with our expectations.
Douglas Emslie, Tarsus Group Managing Director, said:
"We continue to drive our "Quickening the Pace" strategy and are
encouraged to see good organic revenue and buyer growth across the
Group's portfolio. The momentum we saw in the first half has
continued into the second half and we have seen strong performances
across our major brands.
"We expect positive performances from our remaining shows this
year and the Group remains confident of delivering a good result
from our diversified portfolio for the full year. Bookings for our
larger biennial events in 2017 remain strong."
Future diary
Tarsus will be hosting a Capital Markets Seminar for analysts
and investors on 22 November 2016 at Saddlers Hall, 40 Gutter Lane,
London EC4V 6BR at 4pm. The event will provide information on the
Group's replication and organic growth strategies.
The Group expects to publish a trading update for the year
ending 31 December 2016 on 10 January 2017.
For further information:
Tarsus Group plc:
Douglas Emslie, Group Managing Director +44 (0)20 8846 2700
Dan O'Brien, Group Finance Director
IR Focus
Neville Harris, Investor Relations +44 (0)79 0997 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 100 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
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