Pico Thailand posts loss in Q2

Bangkok, 13th June: Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, has released its results for the quarter ended 30th April 2025. Revenues in the quarter were US$7.03 million, representing a year-on-year decrease of 9.6%. The company posted a net loss of US$887,000 in the reported period, compared with a net profit of US$12,000 in the same quarter last year.

The company attributed the decrease in revenues to the majority of the project were completed in the previous year. The expenses in selling and administrative increased as expected credit loss from account receivable increased, in the result of the loss the reported period.

Pico Thailand also reported its results for the six months ended 30th April. Revenues in the period amounted to US$16 million, which dropped by 1.9% year-on-year. In the six-month period, the company posted a net loss of US$647,000 compared with a net profit of US$102,000 recorded in the first half of the last financial year.