Tarsus profit falls 41%; dividend raised as biennial events loom
Source - SMW
Business-to-business publisher and events company Tarsus Group posted a 41% drop in annual profit, though the fall was pinned on the timing of biennial events.
Pre-tax profit for the year through December fell to £16.5m, as sales reversed 15% to £99.7m.
Compared to 2016, however, pre-tax profit in 2018 more than doubled, while revenue rose 46%.
The company declared a full-year dividend of 11.0p per share, up 10% on-year.
Trading in 2019 had gotten off to a 'good' start, with forward bookings for 2019 on a like-for-like basis currently up 10%.
'Bookings for our larger biennial events, including the Dubai Airshow and Labelexpo Europe, are promising,' chief executive Douglas Emslie said.
'We are pleased with the strong recovery in bookings for our shows in Turkey and bookings across the portfolio are at the top end of the group's target range demonstrating the importance of a diversified portfolio.'
At 9:24am: (LON:TRS) Tarsus PLC share price was +20.5p at 289p