Pico Thailand narrows net loss

Bangkok, 5th June: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its results for the quarter ended 30th April 2026. Revenues in the quarter were US$6.7 million, representing a year-on-year decrease of 6.1%. However, the company narrowed its net loss from US$887,000 last year, down to US$241,000.

For the six-month period ended 30th April, the company’s revenues amounted to US$13 million, which dropped by 22% year-on-year. During the reported period, the company posted a net loss of US$651,000, compared with a loss of US$647,000 in the same period of last year.

The company attributed the decrease in revenues to a slowdown in public sector revenue in the result of the post-election government formation process, together with ongoing geopolitical tensions and conflicts in the Middle East, affecting economic conditions and led some customers to postpone their decision to organise events. The narrow in net loss was mainly due to the decrease in expenses, in the result of an expected credit loss from account receivable was recognized.