Tarsus Group Completes Project 50/13; Looks Ahead to New Strategy
U.K.-based Tarsus Group’s strategy of deriving 50 percent of its revenues from emerging markets by 2013 – Project 50/13 – has been completed a year ahead of time, and now the company is embarking on its next strategy they are calling “Quickening the Pace.”
“2012 was a transformational year for Tarsus with the completion of Project 50/13 well ahead of schedule,” said Douglas Emslie, managing director of Tarsus Group.
He added, “Our ‘Quickening the Pace’ strategy will focus our efforts on the next stage of our development - accelerating the pace of financial returns to our shareholders. We will leverage our management team’s deep knowledge of the Group's unique portfolio of definitive events in growth markets to increase the rate of earnings per share growth.”
The core focus of “Quickening the Pace” will be to accelerate earnings per share growth, driven by a combination of the geographical replication of our major brands into fast growth economies; organic growth from the existing portfolio; tight cost control and selective bolt-on acquisitions in the U.S. and emerging markets, according to Tarsus officials.
In an end-of-year trading update, the company’s adjusted pre-tax profits for the year have increased 13 percent.
Emslie said he expects this growth to continue into 2013, adding, “We are experiencing strong sales progress into 2013 and are increasingly confident that we can deliver an excellent outcome for 2013.”
There were several company highlights from 2012, including acquisitions of two major Turkish show organizers – Life Media and International Fai Organization (IFO); a 30-percent revenue increase in China, with the acquisition of GZ Auto; Dubai’s MEBA event achieved record results with a 19 percent revenue increase; and in the U.S., the Off-PriceShows in Las Vegas performed well, with revenues up 7 percent and 3 percent, respectively, and the medical division grew its revenues 20 percent.
Looking into 2013, bookings for the Group’s two largest biennial shows, Labelexpo Europe (September 2013) and the Dubai Airshow (November 2013) are strong with sales well ahead of the previous editions.
Tarsus Group’s larger events in the first quarter of 2013 - Off-Price in Las Vegas, Ideal Home in Istanbul and Gulf Pack and Print in Dubai - are expected to produce revenues ahead of their previous editions, according to company officials.
The U.S. Medical business also continues its strong momentum, they added.
More acquisitions also are on the horizon, Emslie said, adding, “We are targeting the U.S., Southeast Asia, China and Mexico.”
The only point of caution for the company is its business in France, where the macro economic climate remains uncertain.