Pico Far East up 57% in profit in FY2024

Hong Kong, 24th January: Hong Kong-listed Pico Far East Holdings reported its annual results for the year ended 31st October 2024. The company posted revenues of US$814 million, up 19% year-on-year. Pico’s net profit jumped 57% during the financial year, reaching US$46 million. Diluted earnings per share for the year were HK$0.2874 (US$0.037).

About 86% of Pico’s revenues (US$700 million) were generated from its exhibition, event & brand activation business, representing year-on-year growth of 23%. Other revenue streams were generated from museum & themed environments business (US$54 million), visual branding activation business (US$38 million), and meeting architecture activation business (US$22 million). The meeting architecture activation segment grew 28% over the previous year, while the museum & themed environments segment increased by 6.3%, however the visual branding activation segment dropped 23.5% year-on-year.

In terms of geographical region, the Greater China (Mainland China, Hong Kong, Macau and Taiwan) generated about 40% of total revenues, amounting at US$329 million. The second largest market is the Southeast Asia (Malaysia, Singapore, the Philippines and Vietnam), generated revenues of US$171 million, or 21% of total revenues.