UK - Emerging markets specialist Tarsus has told investors it expects full year organic revenue growth for 2010 to increase by around six per cent, excluding any benefit from currency movements.
The figure, for the year to 31 December 2010, is buoyed by strong events in the UAE and India.
The business jet show MEBA, which took place in Dubai in December, produced results strongly ahead of the previous edition, with revenues up 40 per cent and visitors up 13 per cent. According to Tarsus, in just five years the event has become the third largest business aviation event in the world. This year’s show was opened by HH Sheikh Ahmed bin Saeed Al Maktoum, chairman of Emirates, who signed an agreement to build a new business aviation terminal at the Al Maktoum International Airport in Dubai. The company previously said delays to Dubai’s airport exhibition facilities had a small impact on results.
Labelexpo India, which took place in Delhi in December, saw revenue and visitor numbers climb 22 per cent and 27 per cent respectively in 2010. “The event saw a major increase in international exhibitors who delivered strong sales from the event. As a result, the rebooking for the 2012 edition has been exceptionally strong,” said a spokesman for the company.
Trading has been less predictable in the mature markets of Europe and the US. Tarsus’s French division (primarily Heavent and Educatec) has been in line with its reduced expectations, but there are now signs of stabilisation. The company’s medical division in the US saw revenues increase by 18 per cent, slightly ahead of expectations. The final event of the year, and the largest in the sector, was in Las Vegas in December.
Tarsus runs two significant events in the first quarter of 2011 - the Off-Price Show in Las Vegas and the Mod'amont fashion accessories exhibition in Paris. Current indicators suggest both exhibitions will produce revenues ahead of the equivalent events in 2010.
“The improving economic environment is impacting positively on our portfolio of events in the US and the emerging markets,” said the company spokesman. “France has traditionally benefited later in the economic cycle and the second half weighting of our portfolio in 2011 should be helpful.”
Cashflow remained strong during the period with net debt at 31 December 2010 approximately £29m, a figure Tarsus claims is better than anticipated.
