EUROPE - Tarsus Group’s forward bookings for the year to 31 December 2012 now stand at 65 per cent of anticipated full-year revenues, compared to 61 per cent at the same time in 2010.
The figure means bookings are tracking 15 per cent ahead of last year, when adjusted for biennial events. The timing of exhibitions means revenues for the company are heavily weighted towards the second half of the year.
According to interim results released today, the sale of lower growth businesses and key acquisitions in China and Turkey has helped Tarsus develop a portfolio of fast-growth international events in emerging markets, giving it confidence it will reach its target of deriving half its revenues from emerging markets by 2013.
Tarsus's emerging markets businesses continues to gain momentum through a combination of strong revenue growth and the successful integration of recent acquisitions.
IFO in Turkey, acquired in June 2011, is performing well. Sales for IFO's next exhibition, REW Istanbul, the international recycling, environmental technologies and waste management event to be held in June 2012, are tracking significantly ahead of the 2011 edition.
The integration of Life Media in Turkey, acquired in March 2012, is on track. Life Media's first exhibition under Tarsus ownership, Ideal Home, Turkey's leading Housewares & Gifts event, was held in April 2012 and produced an excellent performance with revenues up 50 per cent on the 2011 edition.
Trading in Chinese business remains strong with the group's exposure to China increased significantly by the acquisition of half of the China International Automotive Aftermarket Industry and Tuning (Guangzhou) Trade Fair (GZ Auto) and other associated business assets.
Forward bookings for Tarsus’s largest event in Dubai in 2012, business aviation event MEBA, are also tracking ahead of the previous event.
In the US, the February 2012 Off-Price Show in Las Vegas performed well, with revenues up seven per cent, bookings for the August 2012 Off-Price Show in Las Vegas are tracking ahead of the 2011 edition, while Labelexpo Americas, in Chicago in September 2012, is expected to outperform its previous edition.
The situation is less rosy in Europe, where the current economic and political uncertainty in Europe has made Tarsus cautious for the full year in its French division, particularly given the occurrence of the largest French shows in the second half of 2012 and the current weakness of the euro.
"We have transformed the group and its growth prospects in the last 12 months through a combination of acquisitions in Turkey and China and the disposal of a significant part of our French operations,” said Tarsus Group MD Douglas Emslie.
"We now have a high-quality portfolio addressing growth markets in fast-growing economies worldwide. We are focused on driving visitor traffic and growing exhibition volumes as we seek to maximise the benefits of our unique and diversified portfolio in order to accelerate earnings growth."
The group expects to publish its interim results for the six months ending 30 June 2012 on 25 July 2012.
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