Pico’s Revenues Up 30 Percent

July 9, 2012

Hong Kong-listed Pico Far East Holdings has announced interim results for the six months ended 30th April 2012. The company’s turnover was US$233 million, an increase of 30 percednt, compared with the same period in 2011. Profit attributable to owners of the company in the period was US$12 million, a growth of 13 percdent year-on-year. Dilute earnings per share in the six-month period were HK$0.0765.

 

Pico’s exhibition & event marketing services business generated 76 percent of the company’s revenues (US$178 million) representing a rise of 22%. The second largest business segment was brand signage and visual communication segment, which generated US$29 million, or 12% of total revenues. The remaining revenues were generated through the museum, themed environment, interior & retail segment (US$21 million) and the conference & show management segment (US$5.5 million).

 

All business segments performed well in the first six months with the museum, themed environment, interior & retail segment observing the highest growth of 122 percent, followed by the conference & show management segment with 91%. The brand signage and visual communication segment and the exhibition & event marketing services were up 35 percent and 22 percent, respectively.

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.