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.
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
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published