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.”
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