Trading Update
February 11 2009 - 2:00AM
UK Regulatory
TIDMTSEG
RNS Number : 1174N
TSE Group PLC
11 February 2009
?
11th February 2009
Embargoed: 7.00am
TSE Group plc
("TSE" or the "Company")
Trading update for the year ended 31 December 2008
The Board of TSE is delighted to announce that its wholly-owned subsidiary TSE
Consulting SA has had a successful trading period over the last six months of
2008 and over 50 per cent. of projected revenue for 2009 has already been
contracted.
Highlights for 2008
* Revenue increased by over 30 per cent compared to 2007, which will result in the
Group's maiden profit before tax
* The TSE office in Istanbul secured a number of important new contracts including:
- The Turkish Swimming Federation to assist them to secure the
World Swimming
Championships;
- The Turkish Athletics Federation to help them in their bid to win
the World Indoor Athletics
Championships; and
- The Turkish Golf Federation in their bid to host the World
Amateur Team Championships.
All three of the above bids were successful and Turkey will host these major
international sporting events for the first time in 2012.
* Through our work with the United States Olympic Committee we are currently
working with Chicago in its bid to host the 2016 Olympic Games
* New contracts have also been secured in the Kingdom of Saudi Arabia and in South
Africa
TSE now has an international network of offices and all of the Company's revenue
is derived in Swiss Francs, Euros and US Dollars. Despite the global economic
downturn the Board is confident that it is building a resilient business with
the majority of the Group's clients emanating from the public sector. The Board
intends, during 2009, to further expand the network of offices utilising the
Group's own internal resources.
Lars Haue-Pederson, Managing Director of TSE Consulting SA, commented:
"I am delighted that we are able to report such positive developments in what is
a difficult global economic market. Our strategy in developing international
offices in key growth markets is now starting to deliver and we intend to pursue
this development strategy throughout 2009. We have a great business that we have
developed over the last few years and we are excited about the prospects for
further substantial sales and profit growth during 2009."
For further information, please contact:
+---------------------------------------------------------+------------------------------------------+
| TSE | Tel: |
| Group | 0207 |
| plc | 245 |
| | 1100 |
+---------------------------------------------------------+------------------------------------------+
| Robin | |
| Courage, | |
| www.tsegroupplc.com | |
+---------------------------------------------------------+------------------------------------------+
| | |
+---------------------------------------------------------+------------------------------------------+
| Beaumont | Tel: |
| Cornish | 0207 |
| Limited | 628 |
| | 3396 |
+---------------------------------------------------------+------------------------------------------+
| Michael | |
| Cornish | |
+---------------------------------------------------------+------------------------------------------+
Note to Editors:
TSE Consulting SA is a wholly owned subsidiary of TSE Group plc, a company
traded on AIM, a market operated by the London Stock Exchange. TSE Group plc
will, through increased organic growth and acquisitions over the coming years,
become a vertically integrated group of specialised companies providing high
level consultancy services to governments and organising committees. TSE
Consulting SA is the platform upon which the rest of TSE Group plc is based. TSE
Group plc is committed to offering the complete range of services for
governments and organising committees involved in major sports events.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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