Pico's Revenues up 10 Percent
Hong Kong-listed, Pico Far East Holdings announced its results for the year ended 31st October 2012. Revenues increased by 10% year-on-year reaching US$498 million. Profits dropped 3.8% to US$31 million, while diluted earnings per share for the year were HK$0.1963 (US$0.025).
The exhibition & event marketing services generated just more than 70% of the company’s revenues (US$351 million), a 13% increase over last year. The remaining revenues were generated through Pico’s brand signage & visual communication business (US$73 million), museum, themed environment, interior & retail business (US$63 million) and conference & show management business (US$11 million).
The brand signage & visual communication business was up 33% and the museum, themed environment, interior & retail business grew 28%. The conference & show management business was the only segment record a decrease (of 71%), as the previous year Pico organised ITMA (Internationale Textilmaschinen Ausstellung) show in Barcelona – the world’s largest international textile machine show, which is held once every four years.
In geographic terms, Greater China (including Hong Kong, Macau, Taiwan and PRC) generated nearly 56% of Pico’s revenues totalling US$278 million. India, Malaysia, Singapore and Vietnam together generated US$137 million or 28% of total revenues.