Tarsus will focus on carefully targeted acquisitions in China, Southeast Asia, Turkey and the United States, as the firm looks for 10 per cent annual growth.
Group managing director Doug Emslie told EN the firm plans to continue to divest its European activities, from a quarter of the company business currently to 20 per cent by 2015.
“After our venture into Indonesia with PT Infrastructure Asia, we’re looking at continuing into the Southeast Asia market. We see Europe as being in for a long difficult period,” said Emslie.
This follows the international business-to-business media group’s results for the year ended 31 December 2012.
Compared to 2011, the firm posted a significant year-on-year revenue drop. In 2012, it had a turnover of £51.5m. In 2011, it posted £61.7m and in 2010, £43.6m.
As a result the firm said revenues were up 18 per cent on a biennial basis. “Dubai Airshow and Labelexpo can distort year-on-year comparisons,” said Emslie.
Pre-tax profit rose to £8.4m, up from £3m in 2011 and £5.3m in 2010.
However, net debt rose to £15.7m in 2012, up from £13.7m in 2011. Adjusted earnings per share were 12.2p, down from 17.0p in 2011, but up on a biennial basis from 10.4p in 2010.
Tarsus said forward bookings for 2013, on a like-for-like basis, are currently 16 per cent ahead of 2012, when adjusted for biennials and acquisitions.
Last year, Tarsus launched a new strategy after its early Project 50/13 completion.
As a result, the firm Tarsus launched its ‘Quickening the Pace’ strategy early in 2013 focusing on accelerating earnings per share growth.
The group purchased Life Media and CYF in Turkey and GZ Auto in China, while revenues from two key shows Labelexpo Americas and MEBA (Dubai) posted sharp rises, up 14 per cent and 21 per cent respectively.
Tarsus also intends to replicate its leading brands internationally, with editions of GZ Auto being launched into Indonesia and Turkey. Zuchex will also be launched into Kazakhstan.
The French business is tracking in line with the board’s expectations although the group said it remains ‘vigilant’ given the current macroeconomic uncertainty in Europe.
“We have made a good start to 2013 and are experiencing strong momentum and sales progress,” said Tarsus chairman Neville Buch. “We are increasingly confident we can deliver an excellent outcome for 2013 particularly as we are operating in growth markets.”
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