Pico Thailand’s profits up 29% in full year results

Bangkok, 8th December: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its full year financial results for the year ended 31st October 2017. The company reported total revenues of US$41 million, which is a decrease of 2.2% year-on-year. The decrease was attributed to the relatively poor performance of its event marketing business.

However, the company posted a 29% increase in net profits, reaching US$1.4 million in the financial year. The company attributed the increase to the several large-scale project won during the year which generated a higher gross profit margin and lower cost of services. Earnings per share for the year were Baht 0.21 (US$0.0062).

Sources: Pico Thailand financial results, Pico Thailand announcement