Tarsus Group Posts 10-percent Like-for-like Revenue Growth in 2015
U.K.-based Tarsus Group posted overall 2015 revenues of $122 million (£86.9 million), a 15-percent overall uptick over comparable year 2013, as well as a 10-percent *like-for-like revenue increase for the year.
"2015 was an important year for Tarsus,” said Douglas Emslie, Tarsus’ managing director. “We passed a significant milestone in the strategic progress of the Group with the sale of our French business. This will allow us to concentrate resources on our selected core geographies, which offer the best opportunities for growth.”
The company also continued to implement “Quickening the Pace”, a strategy to accelerate the pace of financial returns to shareholders.
“Our 'Quickening the Pace' growth strategy gained further traction and we achieved industry leading organic growth through our focus on delivering larger numbers of buyers to our exhibitions – up 9 percent in 2015,” he added. “We achieved organic revenue growth of 10 percent and are continuing to invest in replications of our successful brands to maintain momentum over the medium-term.”
Last year marked the run of two of the biennial largest shows in Tarsus’ portfolio – Dubai Airshow and Labelexpo Europe, both of which performed well.
Dubai Airshow attendance surged 9 percent and also had strong revenue growth. Labelexpo Europe had buyers up by 12 percent, compared with the previous edition, to a record 35,700.
Shows in the company’s other markets, such as Turkey, China, Indonesia, Mexico and the U.S., all posted positive performances as well.
Tarsus also made two strategic acquisitions last year. In May 2015, Tarsus acquired 100 percent of Painweek in the U.S.
This completes the exposure of the Group’s medical business to the four main sectors of the US preventative medical market – neurology, endocrinology, cardiovascular and oncology.
Painweek has enjoyed strong growth since it was established in 2007 and its main annual event is supported by a series of satellite events in the US and a strong digital presence.
In July 2015, the Group purchased 50 percent of the AMB Group, an established South-East Asian exhibition organizer with a major presence in Myanmar and Cambodia.
This adds significant scale and presence across the region, building on Tarsus’ existing business in Indonesia. Tarsus intends to scale up AMB’s events and launch new exhibitions in its existing markets.
Besides acquisitions, the company continued to replicate its existing brands in new markets.
Even though 2016 will not have Tarsus’ two largest shows running, it still looks to be a good year. Forward bookings for the Group's major events in 2016 are tracking 10 percent ahead of 2015 (adjusted for biennials and acquisitions).
“Forward bookings are strong, and the Group is well positioned to deliver a good performance in 2016,” Emslie said.
*Like-for-like revenue: Constant exchange rates adjusted for biennial events, excluding acquisitions impacting for the first time in 2015, prior year disposals and non-recurring products and items.