Tarsus, the international business to business media company, has reported a rise of 42 percent in its revenues at £61.7 million for the year ended December 31, 2011 with adjusted pre-tax profits up 77 percent to £16.8 million.
Its adjusted earnings per share increased by 63 percent to 17.0 pence compared to 10.4p in the year 2010 and £11.8 million of cash from operations. The group's net debt halved to £13.7 million, which was ahead of expectations.
While commenting on the results, Neville Buch, the company chairman said: "2011 was a record year with the group achieving a strong financial performance, both on a year-on-year and biennial basis, and we have halved our debt level. We are on course to achieve our target of securing 50% of our revenues from the Emerging Markets by 2013 with revenues currently at 38% on a proforma basis. This was achieved alongside a stronger than expected performance by the US business. In the current year we are encouraged by the momentum in both our US and Emerging Markets businesses, where bookings are tracking ahead of their comparative events."
Tarsus is expected to generate 50 percent of its revenue from the US in 2012 as bookings with the Medical Division, Off Price events and Labelexpo Americas are tracking ahead of their comparative events. Tarsus remains confident about the outlook for 2012 and the continued implementation of its strategy through a combination of organic growth and carefully targeted acquisitions.