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Tarsus - Makes second Turkish acquisition

May 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TRS
  • Price:
  • 143p
Results were overshadowed by the acquisition of Life Media, a leading Turkish exhibition organiser, for an initial £10.6m plus a further £5m due in 2013. This is being funded by a placing of 8.1m new shares at 135p, to raise £10.9m. Established in 1997, Life Media is a leader in Turkey's housewares and gifts business-to-business exhibition sector and owns two annual exhibitions held in Istanbul. The larger is Zuchex, held every September, which delivered 41,600 net sq. metres in 2011 while the smaller event is the Ideal Home Fair (April), which achieved 18,400 net sq. metres. Life Media is a fast-growing business, which recorded revenues of £4.4m and pretax profit of £2.5m last year and (based on 2012 forecasts) is expected t ...

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