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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