Pico's First Half Revenue Up 1.7 Percent
Last week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended April 30.
Revenues were US$214 million, a slight increase by 1.7 percent, compared with the same period in 2013.
However, profits in the period dropped by 7.1 percent year-on-year, to US$11 million. Dilute earnings per share in the six-month period were HK$0.0713 (US$0.0092).
Pico’s largest business segment in the six-month period was the exhibition & event marketing services, generating US$160 million, or almost 75 percent of total revenues.
The second largest business segment, brand signage & visual communication, generated about 14 percent of the company’s revenues, amounting to US$30 million.
The remaining revenues were generated from the museum, themed environment, interior & retail segment (US$17 million) and the conference & show management segment (US$6.8 million).
The museum, themed environment, interior & retail segment grew the most, by 22 percent; followed by the exhibition & event marketing services, up by 6.1 percent.
The conference & show management segment expanded by 2.9 percent, while the brand signage & visual communication segment shrunk by 23 percent during the period.
“Despite that fact that 2014 continues to be a year of challenges due to slowing growth in China and several other Asian region such as Japan, Korea, and Taiwan,” said Lawrence Chia, chairman of Pico.
He added, “We have been able to secure and complete high-profile projects like the 2014 Sochi Winter Olympics, Bahrain National Day, London Singapore Day, Lotte World Night Parade in Seoul and the Emirates Dubai Jazz Festival.”