Bangkok, 10th September: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2018. Revenues in the quarter were US$13 million, an increase of 25% over the same quarter in 2017. However, the company’s profits in the quarter dropped 26% down to US$386,000.
The company attributed the increase in revenues to a strong performance in its exhibition business and event marketing business. According to the company, that core business unit has fully rebounded following the cancellation and postponement of several key customers’ events in the previous year. However, increasing expenses hit the bottom line and reduced profits.