Tarsus Group Scores Record 2013 First-half Revenues
U.K.-based Tarsus Group, the parent company of Trade Show News Network, has scored record revenue results for the first half of 2013, with $40 million (£26 million), compared with $29 million (£19.2 million) during the same period last year.
Adjusted profit before tax also more than doubled from $2.7 million (£1.8 million) in the first half of 2012 to $5.9 million (£3.9 million) in the first half of this year.
Like-for-like exhibition revenue also was up 8 percent, compared with 2012, as adjusted for biennials and acquisitions.
“Tarsus has delivered record results for the first six months of the year, with good like-for-like revenue growth,” said Tarsus Managing Director Douglas Emslie.
The positive results were a result of the company’s “Quickening the Pace” strategy, which is focused on accelerating earnings per share growth.
This strategy is being driven by a combination of geographical replications of 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.
“We are focused on delivering our "Quickening the Pace" strategy and we have got off to a fast start,” Emslie said.
He added, “We continue to add value to our portfolio of market leading events by replicating these brands both domestically and internationally. The pace of brand replications has quickened during the period.”
There have been strong performances in particular from emerging markets, with 13 percent like-for-like revenue growth; Turkey like-for-like revenues are more than 13 percent; China like-for-like revenues are more than 20 percent and Dubai like-for-like revenues are more than 6 percent.
In addition, there have been further brand replications, such as the Labelexpo brand expanding its summit into a full-fledged trade show in Indonesia next year. Tarsus also continues to buy shows around the world, including the completion of the 51-percent acquisition of PT Infrastructure Asia in Indonesia.
In the United States, revenues increased by 6 percent on a like-for-like basis.
Sales in the Medical division were at record levels, with educational products, including those delivered online, continuing to show good growth. The April medical event performed in line with expectations.
The February OffPrice Show in Las Vegas was another record event. Bookings for the August edition of the exhibition are ahead of its 2012 comparable event.
The second half of 2013 also looks bright, with forward bookings currently 12 percent ahead of 2012.
Two of Tarsus Group’s large biennials - Labelexpo Europe and the Dubai Airshow – also are tracking positively, compared with their previous events.
“We have good visibility for the full year, especially from our two largest events - the Dubai Airshow and Labelexpo Europe - and we are confident of a positive full-year outcome,” Emslie said.