Bangkok, 6th June: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its results for the quarter ended 30th April 2018. Revenues in the quarter were US$14 million, a year-on-year increase of 26%. Meanwhile, the company posted a drop of 33% in net profit, down to US$411,000.
The company attributed the increase in revenues to a strong performance in its event marketing business. According to the company, that business has fully rebounded following the cancellation and postponement of several key customers’ events in the previous year. The decrease in profit was mainly attributed to increasing expenses.