Hong Kong, 24th January: Hong Kong-listed Pico Far East announced its annual results, for the year ended 31st October 2017. The company reported total revenues of US$510 million, down by 4% year-on-year. The company attributed the decline to the end of two non-recurring mega projects in the previous year. The company’s net profit fell 6.3% during the year, down to US$36 million. Diluted earnings per share for the year were HK$0.2286 (US$0.029).
More than 80% of Pico’s revenues were generated from its exhibition & event marketing services, amounting to US$409 million. This represents year-on-year growth of 6.3%. The remaining revenues were generated from its visual branding experiences business (US$45 million), the museum, themed environment, interior & retail business (US$38 million), and its conference & show management business (US$19 million).
Pico business in Greater China generated 62% of total revenues, amounting US$318 million. The next largest market, South & Southeast Asia (India, Malaysia, the Philippines, Singapore and Vietnam) generated revenues of US$124 million, or 24% of total. The Middle East posted revenues of US$30 million, Italy, UK & US (US$7.3 million), and other regions recorded revenues of US$32 million.