Pico profit takes off

Pico Far East Holdings has announced a 218.9 per cent rise in net profit to $32.04 million from $10.04 million for the six months to April.

Turnover increased 51.1 per cent to $320.06 million from $211.86 million, while operating profit before exceptional gains of $5.63 million was $34.98 million, from $9.58 million.

Earnings per share were 12.08 cents against 4.4 cents. Interim dividend is three cents per share.