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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Which UK region has the most in savings? Average savings by areaThe amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted foundersHelped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market
