Pico Thailand’s profits up 380%

Bangkok, 5th September: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2017. Revenues in the quarter were US$11 million, an increase of 9.3% compared with the same quarter last year. The company’s profits jumped an impressive 381% - reaching US$521,000.

Pico Thailand’s management attributes the growth in revenues to increases at its exhibition & event marketing business. A drop in operating expenses also served to boost profits.

The company also announced its results for the nine months ended 31st July. Revenues dropped 12% year-on-year, down to US$28 million. Profits in the period were US$871,000, representing a decrease of 14% compared with the same period in 2016. Earnings per share in the nine-month period were Baht 0.132 (US$0.0040).

Sources: Pico Thailand financial results, Pico Thailand announcement