Tarsus Outlook Confident As It Reports Solid 2018 Performance

LONDON (Alliance News) - Tarsus Group PLC reported a strong 2018 on Wednesday, with like-for-like revenue growth in particular doing well for the business-to-business media company.

For 2018, Tarsus' revenue fell to GBP99.7 million from GBP117.7 million in 2017, though like-for-like revenue growth was 9%.

Pretax profit was GBP16.5 million, down from GBP27.9 million, and the adjusted figure fell to GBP27.9 million from GBP40.2 million.

However, Tarsus focuses on biannual figures. On this basis, revenue climbed 46%, with adjusted pretax profit rising 45% biannually.

Tarsus runs exhibitions and conferences, some of which are biannual, as well as having publishing operations.

The company declared a 7.7 pence final dividend, taking the year's total to 11.0p, up 10% on the prior year.

Net debt fell to GBP78.8 million at the end of 2018 from GBP84.8 million a year prior, bringing gearing back into its target range, which it did not state.

Tarsus' buyer-visiting growth in its portfolio was 10%, at the top end of its targeted range of between 5% and 10%.

Looking forward, Tarsus said it is confident 2019 will be a successful year, with trading in the first two months of the year going well. Bookings for its larger biannual events are promising, it said.

Shares were up 11% on Wednesday at a price of 298.00 pence each.