Profit Attributable to Owners of the Company increased by 25.6% to HK$109 million
Turnover increases 13.8% to HK$1,885 million
Board Recommends Interim Dividend of HK4.5 cents
Interim Highlights
Profit Attributable to Owners of the Company increased by 25.6% to HK$109 million
Turnover increased by 13.8% to HK$1,885 million
Board of Directors recommended an interim dividend of HK4.5 cents, payout ratio being 50.2%
Strong financial position reflected by the Group’s net cash balance of HK$1,083.3 million
All business segments recorded growth in turnover
| Financial Summary | For the 6 months ended 30 April (HK$'000) | ||
| 2015 | 2014 | Change | |
| Turnover | 1,884,643 | 1,656,367 | +13.8% |
| Gross profit | 528,446 | 475,156 | +11.2% |
| Gross profit margin (%) | 28.0% | 28.7% | -0.7ppts |
| Profit from operations | 125,307 | 97,695 | +28.2% |
| Profit attributable to Owners of the Company | 109,184 | 86,903 | +25.6% |
| Basic earnings per share | HK8.97 cents | HK7.15 cents | +25.5% |
| Interim dividend per share (recommended) | HK4.5 cents | HK4.5 cents | - |
(Hong Kong, 26 June 2015) Pico Far East Holdings Limited (“Pico”, “the Company” or “the Group”, HKEx: 0752), a leading global Total Brand Activation company, today announced its 2015 interim results for the 6 months ended 30 April 2015 (the “Period”).
During the Period, Pico recorded a turnover of HK$1,885 million (1H2014: HK$1,656 million), increased by 13.8% compared with the previous corresponding period. Profit attributable to owners of the Company increased by 25.6% to HK$109.2 million due to growth in all business segments. Basic earnings per share is HK8.97 cents compared to HK7.15 cents in the previous corresponding period. The Group maintained a healthy financial position, as reflected by the Group’s net cash balance of HK$1,083.3 million.
The Board of Directors recommended an interim dividend of HK4.5 cents per ordinary share, same as the previous period.
Business Review
During the Period, all four business segments recorded growth in turnover.
| Turnover by segment | For the 6 months ended 30 April | ||||
| 2015 | 2014 | Change in turnover | |||
| HK$’ Million | % to Group’s Turnover | HK$’ Million | % to Group’s Turnover | ||
| Exhibition and Event Marketing Services | 1,298.4 | 68.9% | 1,242.0 | 75.0% | +4.5% |
| Brand Signage & Visual Communication | 283.9 | 15.1% | 230.2 | 13.9% | +23.3% |
| Museum, Themed Environment, Interior & Retail | 204.5 | 10.8% | 131.4 | 7.9% | +55.6% |
| Conference and Show Management | 97.8 | 5.2% | 52.8 | 3.2% | +85.2% |
Mr. Lawrence Chia, Chairman of Pico said, “We are pleased that our interim results demonstrate that we have delivered on our strategic objectives. Despite the fact that this financial year continues to be a year of dynamic change in our industry, the Group was able to get off to a steady start. Highlights of the latter half of this year will include a series of “Singapore50” projects celebrating the country’s 50th anniversary, the Formula One Singapore Grand Prix, the first European Games in Baku, Expo Milano and Shanghai Disneyland. Looking ahead, the Group will remain dedicated to providing innovative and signature services which exceed our clients’ expectations and deliver the best return on investment across the whole marketing spectrum. We shall continue to focus on our proven winning strategies and to grow our footprint further and win new business globally.”
For a full version of the interim results announcement, please click here.
