Hong Kong, 22nd June: Last week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2020. Revenues were US$241 million, a 24% decrease year-on-year. Profits from core operations in the six-month period dropped 56%, down to US$11 million. Diluted earnings per share in the first half of the financial year were HK$0.0195 (US$0.0025).

According to Pico, the company’s operational results were on target before the COVID-19 outbreak in January 2020. However, due to the outbreak, operations in essentially all of the company’s key markets ceased.