Pico’s revenues and profits fall in first half

Hong Kong, 27th June: Earlier this week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2017. Revenues were US$220 million, a year-on-year decrease of 16% compared the same period last year. Meanwhile, profits in the first half dropped 3.9% as well, down to US$16 million. Diluted earnings per share in the six-month period were HK$0.1008 (US$0.013).

More than 80% of Pico’s revenues were generated from its exhibition & event marketing services segment (US$176 million). This represents a decrease of 1.1% year-on-year. The remaining revenues were generated from its museum, themed environments, interior & retail segment (US$21 million), its brand signage & visual identity segment (US$18 million), and the conference & show management segment (US$3.1 million). These smaller segments each accounted for less than 10% of the company’s total revenues.

The revenues in these smaller segments were hit much harder than its core business, exhibition & event services. Revenues in the brand signage & visual identity segment recorded a decline of 28%, while the museum, themed environment, interior & retail segment dropped by 34%. The conference & show management posted the largest decrease in revenues, down 87%.

Sources: Pico announcement, Pico financial report