Bangkok, 13th June: The Thai-listed subsidiary of Pico Far East Holdings, Pico Thailand, also released its results for the quarter ended 30th April 2019. Revenues in the quarter were US$13 million, representing a year-on-year decrease of 8.3%. However, its profit increased by 21% in the quarter reaching US$492,000.
The decrease in revenues was mainly due to weakness in its exhibition marketing business and its event marketing business. The increase in profit was attributed to the strong performance of several service-oriented projects with higher profit margins.