News this week: Pico Thailand, the Thai-listed
subsidiary of Pico Far East Holdings,
announced its results for the quarter ended 30th April 2013.
Revenues in the quarter were US$8.6 million – down 20% compared with the same
quarter last year. Pico Thailand’s management attributed the decrease to the completion
of major contracts – specifically the “Teacher TV” project. Net income in the
quarter was US$406,000 – representing a drop of 61%.
Pico Thailand also reported the results for the six months
ended 30th April. Revenues in period were US$17 million – a decrease
of 29% compared with same period in 2012. According to the company, the
decrease was primarily due to the revenue generated at the BOI Fair held in the
first quarter of last year.
In that six-month period, the company recorded a net profit
of US$308,000, compared with a profit of US$2.0 million last year. Earnings per
share in the period were Baht 0.042 (US$0.0014).
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