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Tarsus

September 2009

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:
  • 104p
Business events organiser Tarsus has produced a reassuring set of interims with revenues rising 74% to £19.7m and pretax profit increasing 42% to £1.7m for the six months to 30 June. Earnings rose 20% to 1.8p. Net debt stood at £34.8m after absorbing the US$5.7m final earn-out payment from the purchase of its Dubai business. There are no further significant earn-outs going forward while the group has secured less onerous covenants on its borrowing facilities, providing greater firepower for potential acquisitions.In the US (23% turnover) revenues increased 12% in H1 while pretax profit was 8% ahead, with the major events being the Off-Price discount clothing and the medical event in Orlando, both of which produced respectable r ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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