Friday, September 14, 2012

Pico Thailand: Q3 revenues up, profits down

News this week: Earlier this week, Pico Thailand, a subsidiary of Hong Kong-based Pico Far East Holdings, announced its financial results for the quarter ended 31st July 2012. In the quarter, Pico Thailand generated revenues of US$8.4 million or a 13% year-on-year increase. However, the company’s net profit in the period dropped 60% to US$160,000.

Pico Thailand also announced its results for the nine-month period ended 31st July. Revenues in the period were US$31 million, a rise of 11% compared with the same period in 2011. Net profit was US$2.1 million in the nine-month period, an increase of 14% over the first nine months of last year. Earnings per share in the period were Baht 0.386.

The company attributed the increase in revenues to growth in its Event Marketing and Exhibition business, while the decrease in profit was attributed to an increase in selling and administrative expenses.

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