Pico Thailand’s revenue drops 16% in Q2

Bangkok, 9th June: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its results for the quarter ended 30th April 2017. Revenues in the quarter were US$10 million, down 16% from the same quarter in 2016. However, the company’s net profit increased by 9.5% in the period reaching US$562,000.

Pico Thailand attributed the decrease in revenue to the cancellation and postponement of some customers’ marketing activities from its exhibition business as well as from some projects completed during last year for its museum business.

The company also reported its results for the half-year ended 30th April. Revenues in the six-month period were US$17 million – a decrease of 21% down compared with the same period last year. The company’s net profit dropped 61% year-on-year, down to US$336,000 in 2017. Earnings per share for the half year were Baht 0.056 (US$0.0016).

Sources: Pico Thailand financial results, Pico Thailand announcement