News this week: Earlier this week,
London-listed media group, Tarsus released
its financial results for the year ended 31st December 2012. The group reported group revenues of £51.5 million, a like-for-like
growth of 13% after adjusted
for biennial events. Excluding acquisitions impacting for the first time in the
year, prior year disposals, and non-recurring products and items, revenues were
up 18% over 2010’s £43.6 million. Adjusted profit before tax was £14.8 million, compared with £5.3
million recorded in 2010.
Tarsus’ management highlighted the strong performance of its
businesses in emerging markets last year. Hope, Tarsus’ Chinese joint venture,
posted a revenue growth of 37%. Hope’s South China Label Show in
December last year saw a 51% increase in revenue over its previous edition.
Tarsus’ strong performance in emerging markets allowed the
company to achieve its “Project 50/13”
– an initiative to derive 50% of revenues from emerging markets by 2013 – one year
ahead of schedule. The group subsequently launched “Quickening the Pace” early
in 2013 to focus on accelerating earnings per share growth.
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