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Tarsus Group Plc Ord GBP0.05 NEX:TRS.GB NEX Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.10p +0.04% 258.60p 246.00p 271.00p 258.60p 258.60p 258.60p 730 09:06:11

Tarsus Group PLC Year-end Trading Update

14/01/2019 7:00am

UK Regulatory (RNS & others)


TIDMTRS

RNS Number : 9340M

Tarsus Group PLC

14 January 2019

 
                                          14 January 2019 
                                          Tarsus Group plc 
                                      Year-end Trading Update 
                                              Overview 
     Tarsus Group plc (LSE: TRS, "the Group", "Tarsus"), the international business-to-business 
    media group, updates on trading for the financial year ending 31 December 2018 and progress 
                               on its Quickening the Pace 2 strategy. 
     The Group delivered a good operational and financial performance in 2018. As a result, the 
    Board anticipates that results for the year ended 31 December 2018 will be in line with its 
                                           expectations. 
                                     Recent Trading and Outlook 
     Trading in the period since the issue of its trading update on 6 November 2018 was in line 
   with expectations. The World Anti-Aging Congress in Las Vegas performed strongly with a record 
    event whilst the Flower Show in Turkey and MEBAA (business aviation) in Dubai both performed 
                                              solidly. 
     Foreign currency rates were volatile across much of 2018. The overall impact on the Group 
            was not material with US dollar strength offsetting the weaker Turkish Lira. 
   Prospects for continued organic growth in 2019 are positive. Forward bookings for the Group's 
 major events - which include the biennial Labelexpo Europe and the Dubai Airshow - are encouraging 
    and the brand replication portfolio continues to grow. Total like-for-like bookings for 2019 
   are up 10%+. We currently expect 2019 reported results to benefit from weaker sterling. Whilst 
     it is very early in the year, the Board is confident of another good performance in 2019. 
                                          Progress in 2018 
     The Group launched the second phase of its "Quickening The Pace" strategy in January 2018. 
     This focuses on further building the scale and momentum of the Group, driving the organic 
    growth of our existing businesses, replicating Tarsus brands and acquiring new platforms for 
                                 growth. Highlights this year were: 
     - Group like-for-like revenues, at constant exchange rates, increased by approximately 9%. 
     - Visitor/buyer growth across the portfolio was 10% on a like-for-like basis - well ahead 
                                  of the Group's KPI target of 5%. 
  - There were 19 brand replications launched including six new Connect events and an outstanding 
                            first edition of Labelexpo South East Asia. 
   - The Group also completed six acquisitions in the year with the largest being the acquisition 
            of the remaining 50% of the Group's joint venture with EJ Krause in Mexico. 
   The Group has entered into new finance facilities for a total of GBP150m (previously GBP126m). 
   These comprise a GBP30m seven-year term bond repayable in December 2025 and GBP120m revolving 
   credit facilities committed to December 2023. These extended facilities provide a strong basis 
                     to support the ongoing execution of the Group's strategy. 
                       Douglas Emslie, Tarsus Group Managing Director, said: 
   "2018 saw the launch of the latest phase of our Quickening the Pace strategy and we delivered 
   against that strategy with another good year of progress both operationally and strategically. 
    "Bookings for our larger biennial events in 2019, including the Dubai Airshow and Labelexpo 
   Europe, are promising. Our programme of brand replications is steadily augmenting our growth. 
    While we remain mindful of geo-political uncertainty, 2019 - the larger of the years in our 
         biennial cycle - is shaping up to be another very progressive one for the Group." 
     The Group expects to announce its final results for the year ended 31 December 2018 on 27 
                                           February 2019. 
     The Company will be hosting a presentation to analysts at 11.00am today at the offices of 
     Deutsche Bank plc at 1 Great Winchester St., London EC2N 2DB. No new material information 
                                      will be made available. 
 
                             For further information:Tarsus Group plc: 
                   Douglas Emslie, Group Managing Director   +44 (0)20 8846 2700 
                                Dan O'Brien, Group Finance Director 
                                              IR Focus 
                    Neville Harris, Investor Relations       +44 (0)79 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 150 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, Jakarta, Milwaukee, 
                    Atlanta, Boca Raton (Florida), Dubai, Shanghai and Istanbul. 
                             For more information visit www.tarsus.com. 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 14, 2019 02:00 ET (07:00 GMT)

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