Tarsus Group's First Half '06 Delivers 10-percent Revenue Increase
Staff -- Tradeshow Week, 9/18/2006
The London-based Tarsus Group delivered mostly positive results in the first half of 2006.
The company reported a 10-percent increase in group revenue, £9.3 million ($17.5 million), up from £8.4 million ($15.8 million) in the first six months of 2005. Profit before taxes was up 52 percent, from £0.5 million ($982,000) in the 2005 period to £0.8 million ($1.5 million), and its adjusted profit before taxes increased to £1.1 million ($2 million) from £0.8 million ($1.5 million) in the 2005 period.
This is all despite a decrease in operating cash flow in the first half, from £2.6 million ($4.8 million) in the 2005 first half to £1.9 million ($3.5 million) in the 2006 period. Operating costs increased slightly, from £7.4 million ($13.9 million) in 2005 to £7.9 million ($14.8 million) this year.
Tarsus Executive Chairman Neville Buch credited much of the firm's growth to its exhibition bookings and established U.S. business.
"The continued success of our established products is enabling us to accelerate organic expansion," he said. The firm has launched 15 new products year-to-date.
Tarsus' U.S. business delivered an increase in revenues, up 21 percent to £2.9 million ($5.4 million) from £2.4 million ($4.5 million) in the first half of 2005. Two U.S. shows that boosted the company's first half performance were the Off-Price Specialist Show and the first Packaging Summit Expo & Conference.
The company's European business delivered revenues of £5.8 million ($11 million) in the first half, compared with £5.6 million ($10.5 million) in the 2005 period.
