Pico Far East Holdings Limited
Announces Annual Results for the 12 Months Ended 31 October 2009
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| Financial Highlights | For the 12 months ended 31 October(HK$’000) | ||
| 2009 | 2008 | % Change | |
| Turnover | 2,225,635 | 2,631,065 | -15.4 |
| Gross profit | 738,509 | 852,568 | -13.4 |
| Profit attributable to equity holders | 123,831 | 169,652 | -27 |
| Net Tangible Assets | 951,000 | 857,000 | +11 |
| Net Cash | 531,000 | 526,000 | +1 |
| Earnings per share -- fully diluted | 10.34 HK cents | 14.13 HK cents | -26.8 |
| Final dividend per share(recommended) | 3.5 HK cents | 2.0 HK cents | +75 |
(Hong Kong, 28 January, 2009) – Pico Far East Holdings Limited (“Pico” or the “Group”, SEHK: 0752), a global Total Brand Activation company, today announces its annual results for the 12 months ended October 31, 2009 (the “Year”).
During the Year, Pico achieved a turnover of HK$2,225,635,000 (2008: HK$2,631,065,000), representing a decrease of 15.4% from the same period last year. Net profit amounted to HK$123,831,000 (2008: HK$169,652,000), a decrease of 27% from the same period last year. The Board of Directors has recommended a final dividend of HK3.5 cents per share (2008: HK2.0 cents).
| Turnover by Region | For the 12 months ended 31 October | ||
| 2009 | 2008 | Change | |
| Greater China | 48% | 48% | - |
| Asia other than Greater China | 37% | 38% | -1% |
| Middle East | 9% | 7% | +2% |
| North America | 5% | 5% | - |
| Europe | 1% | 2% | -1% |
| Turnover by Segment | For the 12 months ended 31 October(HK$’000) | ||
| 2009 | 2008 | % Change | |
| Exhibition and Event Marketing Services | 1,828,359 | 2,194,883 | -16.7 |
| Brand Signage and Visual Communication | 201,074 | 187,826 | +7.1 |
| Museum, Themed Environment, Interior and Retail | 144,770 | 197,110 | -26.6 |
| Conference and Show Management | 51,432 | 51,246 | +0.4 |
Commenting on this year's achievements, Mr. Lawrence Chia, Chairman of Pico, said, “2009 had been a very difficult year for most businesses. Considering this difficult business environment, the financial results for the Year have been encouraging, thanks to our loyal customers and dedication from our staff.”
Mr. Chia added, “Looking ahead, we believe confidence is slowly returning to the marketplace. China market continues to recuperate the fastest and the Group recognizes the existing and unfolding marketing opportunities in China, and we intend to focus and capitalize on them. One of the highlights is the Shanghai World Expo which will open in May 2010. The Group has begun building many national and corporate pavilions, and this six-month long mega event will also generate other eventand exhibition-related opportunities at the exposition venue after the main construction phase is completed. Apart from China, India is another new platform for future growth. The Group has strategically re-established its presence in the country and set up a new company in New Delhi, and from this base we will expand to other major cities including Mumbai, Bangalore and Chennai.”
