Pico Thailand’s revenues jump 67%

Bangkok, 9th March: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st January 2018. Revenues in the quarter were US$13 million, which represents an increase of 67% compared with the same quarter last year.

 

Pico Thailand posted a net profit of US$468,000 in the quarter, compared with a net loss of US$222,000 the same period in 2017. Earnings per share in the quarter were Baht 0.067 (US$0.0022).

 

The company attributed the increase in revenues to a significant rise in revenues from its event marketing business. Management highlighted the fact that the event marketing division bounced back from the cancellation and postponement of several key customers’ events in the previous year.

 

Sources: Pico Thailand financial report, Pico Thailand announcement