Tarsus Group has issued a pre-close trading update highlighting revenue growth and strong forward bookings led by its Turkish operations in recent months.
In a statement on 29 June, the company said forward bookings are at 77 per cent of anticipated full-year revenues, compared with 70 per cent in 2011 (adjusted for biennial events). Tarsus said revenues are heavily weighted towards the second half of the year due to its exhibition timeline, but that trading over the first six months of the year has been in line with the board’s expectations.
Tarsus has been aggressively ramping up its emerging markets portfolio as part of plans to see half of its revenues coming from these territories by 2013. In its latest trading statement, the firm flagged a 17 per cent year-on-year increase in revenues for its recycling, environment and waste event, REW Istanbul, in June.
IFO Turkey, which Tarsus acquired 12 months ago, also continues to perform well, the company stated. The group purchased a 70 percent stake in Turkish-based Life Media in March to further shore up its position in the region.
Other recently held events that performed ahead of expectations include Tarsus’ paid-for Orlando medical event in May, which saw a 15 per cent revenue rise.
“We are increasingly focused on organic growth through the development of our international portfolio with a view to accelerating earnings growth,” Tarsus Group MD Douglas Emslie said.
“We are confident this can be achieved given our operational expertise and the exposure we have to higher growth markets.”
Got a story for Exhibition News? Email us: firstname.lastname@example.org