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Tarsus - Buys French business

November 2007

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:
  • 203p
Since our last update note, Tarsus has announced two acquisitions.Bigger of the two is the acquisition of SEPIC, which owns and operatesthe Mod'Amont and Midec exhibitions in Paris. Mod'Amont is the leadinginternational exhibition for clothing accessories while Midec is theleading French show exhibition; each exhibition is held in February andSeptember each year. In the year to 31 December, SEPIC reported a small loss of £0.16m onsales of £5.4m. Tarsus is paying £9.1m for the business andsimultaneous to its purchase has agreed to sell a freehold propertyback to the vendors for £2.8m. But becoming part of Tarsus will enablethe elimination of duplicated costs as well as sales and marketingefficiencies, with the business reckoned ...

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