Tarsus Group plc, the business-to-business media group, has announced its results for the six months ended 30 June 2012.
- Like-for-like revenue up 14% on 2011 as adjusted for biennials
- Interim dividend up 5% to 2.2p (2011: 2.1p)
- Net debt £19.6 million (2011: £17.3 million)
- Forward bookings currently stand at 80% of anticipated full year revenues (2011: 74%)
- Heads of terms agreed for new five year £45m bank facility
- Life Media (Turkey) acquisition completed in March 2012
- Acquisition of GZ Auto (China) expected to complete in the next few months
Douglas Emslie, Group Managing Director, said, ”Our significant progress in the first half has been driven by excellent performances in the US from our Medical and Off Price products and in the Emerging Markets by very strong growth in the Turkish and Chinese businesses. Turkey is now a key component in our portfolio as a result of our acquisitions of Life Media and IFO.
Our position in China will be significantly enhanced with the addition of GZ Auto, the leading automotive aftermarket show. With our 2012 forward bookings currently standing at 80% and the strong performance in the first half, we have increased the interim dividend by 5%.
We are increasingly confident that our quality portfolio addressing high growth sectors and markets in transition together with our focus on driving visitors and growing exhibition volumes will quicken the pace of our future earnings and dividend growth”.