Tarsus Group Posts Positive 3Q Interim Results; Adds South Beach Symposium to Medical Group
U.K.-based Tarsus Group posted its Interim Management Statement from July 1, 2014 to Nov. 10, 2014 that indicated that results were in line with the company’s expectations, with key events performing well.
"We have had a very good third quarter with strong performances across the major brands: Zuchex, Sign, Labelexpo and Offprice,” said Tarsus Group Managing Director Douglas Emslie.
He added, “We expect solid performances from our remaining shows in 2014, and the Group remains confident of delivering a good performance for the full year.”
Here are some of Tarsus’ third quarter’s highlights:
· Labelexpo Americas, the Group's largest event this year, took place in September 2014 in Chicago. It produced a very good performance with strong visitor attendance and record re-bookings for the 2016 event.
· Zuchex, the annual international housewares and gift exhibition and Sign, the annual advertising and digital printing fair, were both held in Istanbul in September 2014 and performed well. The Group is in the process of replicating Zuchex into new high growth markets and the first edition of the brand in Jakarta will take place Nov. 13-15.
· The August 2014 edition of Off-Price, the biannual discount clothing and accessories event held in Las Vegas, delivered a solid result.
· The first edition of the Cardiometabolic Health Congress (‘CMHC’) under the Group’s ownership since its acquisition in February 2014, took place in Boston in October 2014. The event was very well attended and produced a performance in line with the Group’s acquisition case.
Also in the third quarter, Tarsus acquired 60 percent of the 3D Printshow, which has growth opportunities in many territories and fits well with the existing Tarsus portfolio.
The first exhibitions under Tarsus’ ownership took place in London in September 2014 and Paris in October 2014 and both were in line with management’s expectations, according to company officials.
The company also of broadened its preventative medical education offering with the launch of the Metabolic Medical Institute (‘MMI’).
In addition, the Group’s Medical Division acquired the South Beach Symposium from SBS Medical Education for $6.4 million.
South Beach Symposium is a market-leading event annually held in Miami, focusing on all aspects of dermatology, along with a shortly to be launched online education business.
Founder Mark Nestor, M.D., Ph.D. will continue to lead SBS after its acquisition and is contracted through to the 2017 event.
"The acquisition of SBS is another key step in the transitioning of the Group’s medical business and the implementation of the “Quickening the Pace” strategy,” Emslie said.
He added, “As we focus on taking preventative medicine into the mainstream medical market, the acquisition of SBS compliments the launch of MMI and the earlier acquisition of CMHC. These initiatives will accelerate our progress and provide a strong platform for growth”.
Both the event and the planned new online education platform are complementary to Tarsus' existing medical business and will accelerate MMI’s move into the mainstream medical market.
The outlook for the rest of the full year remains in line with management expectations, with current like-for-like bookings 8 percent ahead of 2013 (adjusted for biennial events).
“Given the current geopolitical situation we retain a cautious view in the near term although forward bookings for the Group’s major events in 2015 remain strong,” Tarsus officials said of the future.
Emslie added that the company is looking to grow revenues through organic growth, brand replications and small acquisitions that accelerate our strategic goals.
He said, “We are increasingly differentiating ourselves from our peers by focusing on markets in transition and on six key geographical areas: U.S., China, South East Asia, Dubai, Turkey and Mexico."