News this week: Pico Thailand,
the Thai-listed subsidiary of Pico Far East
Holdings, released its results for the quarter ended 31st January
2013. Revenues in the quarter were US$8.5 million, a decrease of 36% compared
with the same quarter last year. The company recorded a net loss of US$96,000 in
the quarter,
compared with a net profit of US$992,000 in the same period in 2012.
Pico Thailand’s management attributed the decrease in
revenues to lower income from its exhibition and knowledge communication
businesses. According to the
company, the exhibition business revenue is lower than last year and a major
contract related to its knowledge communication business ended in the middle of
2012.
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