Tarsus Group PLC Capital Markets Event and Trading Update (7592P)
November 22 2016 - 2:00AM
UK Regulatory
TIDMTRS
RNS Number : 7592P
Tarsus Group PLC
22 November 2016
22 November 2016
Capital Markets Event and Trading Update
Capital Markets Event
Tarsus Group plc (LSE: TRS, "Tarsus" or the "Group") is hosting
a Capital Markets Seminar for analysts and investors later today to
be held at Saddlers' Hall, 40 Gutter Lane, EC2V 6BR at 4pm. The
event will provide information on the Group's Quickening the Pace
strategy.
No new material information will be made available.
Trading Update and Outlook
The key remaining events for Tarsus for 2016 are tracking in
line with our expectations and forward bookings for the Group's
major events in 2017 remain strong.
Our current forecasts for 2017 are predicated on a US dollar
exchange rate to sterling of $1.35. If the weakness in sterling
continues at current market rates, this would have a material
positive impact on the expected financial results for 2017. Due to
foreign exchange hedges taken out earlier in the year the financial
results for 2016 are not materially impacted by changes in the US
dollar exchange rate. Excluding the movements in the exchange rate,
the underlying performance in the business continues to be
strong.
Intex
In the period since the last trading update Tarsus has made a
bolt-on acquisition, acquiring 100% of the issued share capital of
PNO Exhibition Investment (Dubai) Limited ("PNO") from Istithmar
P&O Estates FZE. PNO holds a 50% interest in Shanghai Intex
Exhibition Co., Limited (Intex), which runs a portfolio of events
in Shanghai, including Music China (Instruments), CES Asia
(Consumer Electronics) and Hortiflorexpo IPM (Flowers).
Douglas Emslie, Tarsus Group Managing Director, said:
"We expect positive performances from our remaining shows this
year and the Group is confident of delivering a good result from
our diversified portfolio for the full year. Bookings for our
larger biennial events in 2017 remain strong and the financial
performance of the Group in 2017 should benefit from foreign
currency tailwinds.
"We continue to drive our "Quickening the Pace" strategy through
organic growth, replications and bolt-on acquisitions. Intex is an
exciting addition to our portfolio of events in Shanghai and brings
leading events in China into the Group."
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 China,
The Middle East and North Africa, Turkey, Southeast Asia and the
Americas, 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 Global Series in Europe, the Americas
and Asia and the Dubai Airshow.
The Group operates across a worldwide network of offices in
Dublin, London, Jakarta, Milwaukee, Boca Raton (Florida), Dubai,
Shanghai and Istanbul. For more information visit
www.tarsus.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFEDLVLLFIR
(END) Dow Jones Newswires
November 22, 2016 02:00 ET (07:00 GMT)
Tarsus (LSE:TRS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Tarsus (LSE:TRS)
Historical Stock Chart
From Jul 2023 to Jul 2024