Friday, June 28, 2013

Pico’s profit flat in first half

News this week: Earlier this week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2013. Revenues were US$210 million, a decrease of 9.8% compared with the same period in 2012. Profits in the period were US$12 million - flat compared with the previous year. Dilute earnings per share in the six-month period were HK$0.0768 (US$0.0099).

Pico’s exhibition & event marketing services business generated 72% of the company’s revenues, amounting to US$151 million. The second largest business segment was brand signage & visual communication segment, which generated US$39 million or 18% of total revenues. The remaining revenues were generated through the museum, themed-environment, interior & retail segment (US$14 million) and the conference & show management segment (US$6.6 million).

Mr. Lawrence Chia, chairman of Pico, said, “Despite there being no mega-events like Olympics, World Expo or World Cup occurring in 2013, we have been able to deliver a good set of results in the first half of the financial year. Due to our persistence in delivering quality services and creating the best returns to our clients, we have been able to win new and repeat contracts for events.”

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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