News this week: Last week, Pico Thailand, the Thai-listed subsidiary
of Pico Far East Holdings, announced its
results for the quarter ended 30th April 2014. Revenues in the quarter were US$6.6 million, down
15% compared with the same
quarter last year. The company
recorded a net loss of US$94,000 in the quarter, compared with a net profit
of US$406,000 in 2013.
Pico Thailand’s management attributed the decrease in
revenue to declining income from its event marketing business and a drop in
government projects - as well
as the delay of some projects due to political uncertainty in Thailand.
Pico Thailand also reported its results for the six months
ended 30th April.
Revenues in period were US$16 million, almost flat compared with the same period in 2013. In that six-month period, the
company recorded a net profit of US$78,000,
a 74% drop compared with last year. Earnings per share in the period were Baht 0.016.
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