Friday, July 04, 2014

Pico’s first half revenue up 1.7%

News this week: Last week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2014. Revenues were US$214 million, a slight increase by 1.7% over the same period in 2013. However, profits in the period dropped by 7.1% 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% of total revenues. The second largest business segment, brand signage & visual communication, generated about 14% 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).

Lawrence Chia, chairman of Pico, said, “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. 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.”

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

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