Pico Thailand posts decrease in revenues and profits

Bangkok, 12th September: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2025. Revenues in the quarter were US$9.1 million, which dropped 33% year-on-year. In the same period, the company posted a net profit of US$404,000, decreased by 12% from the same quarter in 2024.

The company attributed the decrease in revenues to rescheduling some projects from the third quarter last year to the fourth quarter this year, and also the completion of the implementation of most projects last year.

Pico Thailand also announced its results for the nine months ended 31st July. Revenues in the nine-month period were US$25 million, down 16% year-on-year. The company posted a net loss of US$258,000 in the first nine months of the financial year 2024-2025, compared with a profit of US$526,000 in the same period of last year.