Tarsus (LON:TRS), the international business-to-business media group, has produced a record set of full year results after seeing a boost to its operations in the US and Emerging Markets.

Adjusted pre-tax profits were up by 77% to £16.8 million in the year to December 2011, and net debt was halved to £13.7 million, ahead of expectations. Revenues grew by 42% to £67.1 million, with like-for-like sales up 8%. The figures triggered a proposed final dividend of 4.2p, raising the total for the year by 5% to 6.3p.

Importantly, Tarsus grew its Emerging Markets revenues to 38% of the group total as it drove ahead with plans to secure 50% of revenues from these new markets by 2013. The figure was helped by the £10 million strategic acquisition of a stake in Turkish events business IFO in June 2011.

Neville Buch, the chairman of Tarsus, said: “2011 was a record year with the Group achieving a strong financial performance, both on a year-on-year and biennial basis, and we have halved our debt level. We are on course to achieve our target of securing 50% of our revenues from the Emerging Markets by 2013 with revenues currently at 38% on a proforma basis. This was achieved alongside a stronger than expected performance by the US business.”

Mr Buch highlighted the company’s strong positions in the US, China, Turkey and the Middle East and said it was focused on continuing to build a portfolio in these markets through a combination of organic and acquisitive growth. “Our increasing exposure to the higher growth opportunities across these markets, in the short to medium term, should drive earnings and dividends,” he said.

“In the current year we are encouraged by the momentum in both our US and Emerging Markets businesses, where bookings are tracking ahead of their comparative events.”

Among the highlights during the year, Tarsus’ Medical Division achieved 23% organic revenue growth, Labelexpo Europe and Asia (China) both produced record results and the flagship Dubai Airshow, the group’s largest event, grew revenues by 3%, with attendance up 7%.

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