Tarsus sets out stall, exhibits strong growth
Tarsus Group, the exhibitions and business to business media company was up 2.16% in mid morning trading following a positive trading update.
Tarsus Group, the exhibitions and business to business media company was up 2.16% in mid morning trading following a positive trading update.
Group like-for-like revenue growth, at constant exchange rates, increased by approximately 8%. Excluding the troubled French division growth was approximately 13%.
Net debt at the end of 2011 was £14m, half the level at the equivalent point of 2010.
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The Board says it expects adjusted pre-tax profits for 2011 to be in line with expectations.
While the Middle and Far East and U.S. divisions are performing well Europe, in particular France, where revenues were down 4%, is a known issue for the firm.
Tarsus's Managing Director, Douglas Emslie said of the results: "The year ended well, resulting in record revenue and profitability. Cash flow was strong with net debt halving."
He sounded a note of caution on the "second half weighting of our profits and ongoing macro uncertainty in Europe".
Over the last 12 months Tarsus has climbed 14%.
BS
