News this week: Last week, Pico
Thailand, subsidiary of
Hong Kong-based Pico Far East Holdings,
announced its financial results for the quarter ended 31st July 2014.
In the quarter, Pico Thailand generated revenues of US$5.5 million – a 30% year-on-year
drop. In the quarter, the company recorded a net loss of US$557,000, compared
to a net profit of US$281,000 in the same quarter last year.
Pico Thailand also reported
its results for the nine months ended 31st July. Revenues in the
period were US$21 million, a decrease of 10% compared with the same period last
year. Pico Thailand’s net loss in the nine-month period was US$451,000,
compared with a net profit of US$569,000 in 2013.
According to Pico
Thailand, the decrease in its revenues was caused by a drop in the event
marketing business & government projects and project postponements resulting
from Thailand’s recent political unrest.
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