9th Jan 2015 07:53
LONDON (Alliance News) - Tarsus Group PLC said Friday that its outlook for 2015 remains positive, and it anticipates its results for 2014 will be in line with its expectations.
Although the company said that forward bookings for its major events in 2015 are strong, it has been "deliberately cautious in [its] budgets for 2015" given the current geopolitical environment.
In a trading update the media and exhibitions firm said its revenue for the year was up by around 10% at constant exchange rates.
The company said it had continued to concentrate on what it calls its 'quickening the pace' strategy during the year, which is focused on speeding up the financial returns for its shareholders. It made five acquisitions in 2014, launched two brand replications, saw visitor growth across its portfolio of events rise, and made a partial exit from the French market by selling up to 18% of its French business to management.
Tarsus has repositioned its Medical division to "address the broader mainstream medical market", and expressed optimism that the division will return to growth during 2015.
The company also announced the retirement of Chief Executive of its Chinese Operations Hugh Scrimgeour at the end of January. Following the appointment of a successor, Scrimgeour will continue to advise the company on its Chinese strategy, Tarsus said.
"We start 2015 with our portfolio well positioned and Tarsus' entrepreneurial culture enables the group to move quickly to ensure our leading brands fulfil their potential," said Managing Director Douglas Emslie in a statement.
Tarsus expects to announce its full year results March 4.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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