Monday, March 16, 2015

Pico Thailand’s revenue drops 24% in Q1

News this week: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st January 2015. Revenues in the quarter were US$6.7 million, a year-on-year decrease of 24%. The company recorded a net profit of US$16,000, dropping from last year’s US$168,000. Earnings per share in the period were Baht 0.002.

Pico Thailand attributed the decreases in revenue and profit to the country’s political uncertainty and recovering economy. Additionally, the company cited a significant amount of revenue in the previous financial year was generated by a large-scale project, ITU Telecom World.

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