Tarsus Group PLC Trading Update (3471F)
17 May 2017 - 4:00PM
UK Regulatory
TIDMTRS
RNS Number : 3471F
Tarsus Group PLC
17 May 2017
17 May 2017
Tarsus Group plc
Trading Update
Tarsus Group plc (LSE: TRS, "Tarsus" or the "Group"), the
international business-to-business media group, is today providing
a trading update on its current financial year to date.
Trading since the publication of the Group's Annual Results on 1
March 2017 has been in-line with Board expectations, with good
performances to date across the Group's portfolio.
Following the Group's strong performance in 2016, our
"Quickening the Pace" strategy continues to gain momentum. Our
recent major acquisitions, Connect and Hometex, are integrating
well and we are seeing more opportunities for future organic growth
than we anticipated at the time of the acquisitions. In line with
our strategy, we continue to scale our businesses in the US and
China and we expect these regions to add significantly to our
organic growth over the medium term. Event replications continue to
gain momentum and we are moving into the next stage of scaling
them.
Overall, forward bookings for the full year are tracking 9%
ahead on a like-for-like basis.
Americas
The US portfolio has seen a good performance across the business
so far this year. The Connect events have performed well and we are
pleased with the opportunities to develop the existing events and
launch new ones. Our Medical portfolio continues its pattern of
growth, as seen in 2016.
In Mexico, trading continues positively with two replications
held there (GESS Mexico and Airport Solutions) in the period
performing well.
EMEA
In Dubai, our leading education show GESS produced another solid
performance. In Turkey, given the geo-political environment the
market remains unsettled. Exhibitions held so far in Turkey have
performed in line with our cautious budgeting with recent events
showing modest like-for-like revenue growth.
Asia
In Asia the Group's Chinese portfolio, which is heavily first
half weighted, has performed very well. The first edition held
under the Group's ownership of the Spring Hometex event performed
strongly, as expected. This show has a waiting list of exhibitors
and will benefit in due course from the additional exhibition space
being added in Shenzhen in 2019.
Douglas Emslie, Tarsus Group Managing Director, said:
"Our strong focus on both the experience and return on
investment that we provide to our customers continues to drive
scale and momentum in our business. We have seen encouraging
performances across the portfolio so far this year and our forward
bookings, including those of our two largest biennial events,
Labelexpo Europe and the Dubai Airshow, are strong.
"We are excited about the organic growth prospects of the
business and we remain confident about the outlook for 2017."
The Group plans to announce its Interim Results for the six
months ended 30 June 2017 on 26 July 2017.
For further information:
Tarsus Group plc:
+44 (0) 20 8846
Douglas Emslie, Group Managing Director 2700
Dan O'Brien, Group Finance Director
Neville Harris, Investor Relations +44 (0)7909 976044
This information is provided by RNS
The company news service from the London Stock Exchange
END
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