2nd Jul 2007 07:00
Tarsus Group PLC02 July 2007 2 July 2007 TARSUS GROUP PLC Pre-Close Update Tarsus Group plc, the international media group, with interests in exhibitions,conferences, publishing and online media, will be announcing its interim resultscovering the six month period to 30 June 2007 on 5 September 2007. Prior toentering its close period the company is today providing an update on trading. Trading performance in the first half has met our expectations and Tarsusexpects to report like-for-like revenue growth in excess of 12% for the period. It should be noted that the Group's results are very heavily weighted towardsthe second half in 2007, although approximately 80% of expected 2007 revenuesare now contracted compared with 73% at the same stage last year. Given that theGroup's medical events, which were acquired in November 2006, have lessvisibility than the rest of the Group's event portfolio, this is an encouragingposition. United States As previously reported, the first major medical event of the year in Orlando wassignificantly ahead of the prior year with revenues up 112%. The next majorevent in Chicago in August has already exceeded the revenues of its 2006edition. The outlook for the Las Vegas show in December will be bolstered by theexpansion of existing educational programmes to cover both sports and aestheticmedicines. In addition, Tarsus will be launching its first major European eventin Germany in September 2008. Elsewhere in the US, the February Off-Price show delivered a good performancewith like-for-like revenues up 3% - the August Off-Price show is currently 92%(86%) contracted. Europe In France, the facilities management show Proseg, purchased by the Group inOctober 2006, saw revenues rise by 10% notwithstanding only an eight monthlead-in, in response to a request from buyers to reschedule the event fromOctober to June. The trading environment for the Group's events within Franceremains encouraging. Our strategy of transitioning the French portfolio towardslarger and more profitable events is paying dividends with particularlyencouraging forward sales for Heavent and IP Convergence. In the UK, our online business Caroo continued to forge ahead with revenues upby over 30% - we anticipate further expansion into the US in our core sectors. The largest event in the Group's portfolio - Labelexpo Europe - in Brussels inSeptember, is on track for double digit revenue growth compared with the 2005event. M& A activity in the sector has slowed volume growth which has beencompensated for by a significant increase in the number of new exhibitingcompanies and exhibitors directing more of their promotional spend towardsrelated marketing initiatives. Emerging Markets In China, the travel show COTTM achieved its target of reaching profitability inits third year. The Group has also recently extended its agreement with ShanghaiModern to cover 5 new events. In India, the Group has recently acquired ashareholding in Montgomery India Ltd. (MIL), which has established a strongpresence organising events targeting India's burgeoning food and hospitality,construction and animal husbandry industries. Douglas Emslie, Group MD of Tarsus, commented: "The first half was in line with our expectations and the important second halfis shaping up well. We have more revenue contracted than at this time last year,our largest events continue to grow well, our French business is gainingmomentum and we are excited about the prospects for our medical division. We remain confident that this will be another year of strong progress forTarsus." For further information, please contact: Tarsus Group plc:Douglas Emslie, Group Managing Director: 020 8846 2700 Media:Matthew Moth, Madano Partnership: 020 7593 4000 Investors/Analysts:Neville Harris, IRfocus: 020 7593 4215 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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