Tarsus Group Ends 2011 with Record Revenue, Profitability
U.K.-based Tarsus Group recently released its 2011 full-year trading update, with not only 8-percent growth in revenue, but also the company’s board expects adjusted pre-tax profits for the year ending Dec. 31 to be in line with its expectations.
“The year ended well, resulting in record revenue and profitability,” said Douglas Emslie, Tarsus Group managing director.
He added, “Cash flow was strong, with net debt halving.”
Highlights for 2011 in the company’s U.S. division include the February and August editions of the Off-Price Shows in Las Vegas both performing well, with revenues up 10 percent and 6 percent, respectively.
The company attributes the shows’ success in part to the continued inclusion of more footwear and accessories products on the showfloor.
Also in 2011, Tarsus Group’s Medical division saw strong growth, with revenues increasing by approximately 20 percent. The growth primarily was driven by the division’s education programs, including those now delivered online.
The final event of the year and the largest in the sector - the 19th Annual World Congress on Anti-Aging and Aesthetic Medicine (A4M) held in December in Las Vegas - was a record event, with revenues up 11 percent.
Emslie said of events coming up this year, “We have one significant event in the first quarter of 2012 – the Off-Price Show in Las Vegas. Current indications are that it will produce revenues ahead of the equivalent event in 2011.”
Tarsus Group’s biennial Labelexpo Americas, part of a series of worldwide Labelexpo-branded events, also is on tap in September in Chicago.
“We are encouraged by the momentum of our U.S. Medical business, Off-Price events and Labelexpo Americas, but remain vigilant, given the second-half weighting of our profits and the ongoing macro uncertainty in Europe,” Emslie said.
Labelexpo Europe, the group's second largest exhibition, took place in September in Brussels and drew increased revenues of 14 percent, compared with the 2009 event, and record attendance, with an increase of 18 percent.
As a result of this strong performance, there were rebookings of 81 percent for the 2013 exhibition.
With continued uncertainty in some of the European markets, Tarsus Group sold off Paris-based Modamont in December, reducing its exposure to struggling markets. Less than 10 percent of group profits are expected to be generated from France in the future.
Tarsus France will continue to focus on its remaining wholly owned portfolio of exhibitions, according to Tarsus officials.
For 2011, revenues in France were down 4 percent. In the last quarter, trading in the French division was in line with Tarsus’ board expectations, with Educatec growing both its revenues and visitors.
Tarsus Group’s Middle and Far East markets continued their growth streaks, with 2011 first-half events in Dubai, GESS (educational equipment) and Gulf Print & Pack, both performing well, and the Dubai Airshow, held in November, delivering a record performance, with revenues up 3 percent and visitors up 7 percent.
Hope, Tarsus’ Chinese joint venture, delivered a record performance in 2011, with revenues up 25 percent, and Labelexpo Asia, which took place in late November in Shanghai, saw revenues and visitors increase by 41 percent and 9 percent, respectively.
In June, Tarsus completed the acquisition of 75 percent of IFO (Istanbul Fair Organization) in Turkey, in line with the company’s long-term strategy of increasing the proportion of business derived from emerging markets (Project 50/13 - whereby 50 percent of group revenue will be sourced from emerging markets by 2013).
The first Sign Istanbul exhibition under Tarsus’ ownership took place in early December, and revenues were up 28 percent, compared with the previous edition.
“The momentum we are building across the Middle and Far Eastern markets augurs well for 2013 when our two large biennial events recur,” Emslie said.
Tarsus Group expects to announce its final results for the year ended Dec. 31 during the week of March 5.