Tarsus Profitable After First Half

For the first time ever, the Tarsus Group was profitable in the first half of the year. To celebrate the achievement, the company plans to issue an interim dividend, also a first-time-ever occurrence.

During the first six months of 2004, Tarsus Group generated revenue of £7.9 million ($14.3 million), compared with £4.5 million ($8.1 million) in the first half of 2004. The company's profit of £800,000 ($1.4 million) compared with a loss of £200,000 ($361,707) in the first half of last year.

Revenue for U.S. operations rose by 20 percent to £2.4 million ($4.3 million), helped by growth of the February and August versions of the Off-Price Specialist Show — Las Vegas. After attaining profitability with the May Packaging Services Expo in Chicago, Tarsus plans to launch the Packaging Containers & Materials Expo alongside it next year, with support from nine industry associations. Tarsus also launched Smart Packaging this year in Baltimore.

European revenue of £5.6 million ($10.1 million) was up 70 percent from the £3.3 million ($6 million) generated in the first half of last year. European operations were helped by the July 2004 acquisition of Solutions Linus and the remaining 65 percent stake in SeCA. Heavent and Mobile Office were purchased this past June. A European packaging services event will be launched in Amsterdam, Netherlands next June.

The revenue increases were less robust in emerging markets, where a loss was recorded due to the launch of the Beijing Intl. Travel & Tourism Market. However, the Latin American Label Summit in Sao Paulo, Brazil, was profitable in its debut. Expected to double in size is Shanghai's Labelexpo Asia, set for the second half of this year.