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Tarsus - French disposal looks smart

November 2011

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:
  • 138p
Tarsus is disposing of its 51% stake in Modamont, the leading event for fashion accessories in France to its joint venture partner for Eu6.1m. Modamont had been the major contributor within its French portfolio, making a profit of Eu0.6m last year and this looks a smart move given the ongoing economic difficulties in this country. Tarsus is likely to recycle the proceeds into further attractive acquisitions in faster growing emerging markets but ahead of that net debt is now expected to fall to just £15.6m by year-end 2012. Separately, Tarsus noted that since the interim results announcement (on 27 July) it has held three major exhibitions. Most significantly, Off Price, in August, generated 6% like-for-like revenue increase and ...

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