Pico Far East Holdings, an exhibition designer and promoter, reported a net profit of HK$46.06 million for the year to October 31, against HK$49.47 million a year earlier. The company said the drop was due to an exceptional gain of HK$56 million in 1999. Turnover last year rose 20 per cent year on year to HK$1.22 billion. Earnings per share were 9.26 HK cents. A final dividend of 3.5 HK cents per share was proposed.