Friday, March 08, 2013

Tarsus achieves financial targets ahead of schedule


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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