Updates

Tarsus - Targets 50% of sales from emerging markets

August 2010

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.

Tarsus has said it is on track to achieve 50% of revenues in emerging markets by 2013 against the 33% achieved in FY09. With these economies still going great guns and with room for margin enhancement, we think there is scope for Tarsus to pleasantly surprise.Latest H1 results are not too meaningful, however, in the context of being the seasonally quieter half whilst FY10 is an â€œoff yearâ€ for biennial events. But visibility is encouraging with the company reporting H1 sales up 17% to Â£16.9m (7% organic growth) with an adjusted pretax profit up 22% to Â£1.1m. Exhibitors like to book space well in advance and for the year 76% of forecast revenues are in the bag.Divisionally, within emerging markets (sale ...

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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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Tarsus - Targets 50% of sales from emerging markets

August 2010

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