Tarsus Group PLC Year-end Trading Update (7204T)

TIDMTRS

RNS Number : 7204T

Tarsus Group PLC

10 January 2017

10 January 2017

Tarsus Group plc

Year-end Trading Update

Overview

Tarsus Group plc (LSE: TRS, "the Group", "Tarsus"), the international business-to-business media group, finished 2016 well and Group like-for-like revenues, at constant exchange rates, increased by approximately 8%.

The Board anticipates that results for the year ended 31 December 2016 will be in line with its expectations. The outlook for 2017 - the larger year in our biennial cycle - is positive.

Trading

The Group held three larger events since the issue of its Trading Update on 22 November 2016. The Flower Show (landscaping equipment and services) in Turkey, MEBAA (aerospace) in Dubai and the World Anti-Aging Congress (medical) in Las Vegas all performed in line with expectations.

Strategic Progress in 2016

- Visitor/buyer growth across the portfolio was 7% on a like-for-like basis - well ahead of the Group's target of 5%.

- There were 10 brand replications including a very successful second edition of GESS (education) in Indonesia.

- Three earnings accretive acquisitions strengthening our position in the two largest exhibition markets globally:

- Connect, a market leading business travel and meetings event organiser in the US targeting industry leading planners, suppliers and experts focused on the Association, Corporate, Sports, and Specialty verticals;

- Hometex, the leading bi-annual home textiles exhibition in China, where the new exhibition centre in Shenzhen offers a significant organic growth opportunity from the 2019 edition onwards; and

- Intex, a major event organising business based in Shanghai that runs a portfolio of events including Music China (instruments), CES Asia (consumer electronics) and Hortiflorexpo IPM (flowers).

Outlook

Prospects for organic growth in 2017 are positive. Forward bookings for the Group's major events - which this year will include the biennial Labelexpo Europe and the Dubai Air Show - are encouraging and we are aiming to increase substantially the number of brand replications worldwide.

Overall, across the Group's portfolio, bookings are tracking in line with management expectations and whilst it is very early in the year, we are confident of another good performance in 2017.

Douglas Emslie, Tarsus Group Managing Director, said:

"We have performed well in 2016. We have delivered strong buyer growth, further developed our growth prospects through our replication programme and increased our exposure to two strategically important markets with the additions of Connect in the US and Intex and Hometex in China.

"Bookings for our flagship biennial events, the Dubai Airshow and Labelexpo Europe, are promising. Our accelerated programme of brand replications is progressively adding to our growth. While we remain ever-mindful of geo-political uncertainty, 2017 - the larger of the years in our biennial cycle - is shaping up to be an exciting one for the Group."

The Group expects to announce its final results for the year ended 31 December 2016 on 1 March 2017.

The Company will be hosting a presentation to analysts at 11.00am today at the offices of Investec Bank plc at 2 Gresham Street, London EC2V 7QP. No new material information will be made available.

For further information:

 
Tarsus Group plc: 
                                          +44 (0)20 
Douglas Emslie, Group Managing Director   8846 2700 
Dan O'Brien, Group Finance Director 
IR Focus                                  +44 (0)79 
 Neville Harris, Investor Relations       0997 6044 
 
 

Notes to editors

Tarsus Group plc. (LSE:TRS) is an international business-to-business media group with interests in exhibitions, publishing and online media. The Group operates globally in the US and Americas, China, Southeast Asia, the Middle East and North Africa, Turkey and Europe, in key verticals including aviation, medical, labels and packaging, discount clothing (Off-Price), travel, housewares and automotive.

Tarsus runs more than 100 events and websites and its flagship brands include the Labelexpo Global Series in Europe, the Americas and Asia and the Dubai Airshow.

The Group operates across a worldwide network of offices in Dublin, London, Atlanta, Boca Raton (Florida), Milwaukee, Shanghai, Shenzhen, Jakarta, Dubai and Istanbul.

For more information visit www.tarsus.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 10, 2017 02:00 ET (07:00 GMT)