Saturday, September 17, 2011

Pico Thailand posts strong profits

News this week: Pico Thailand, a subsidiary of Hong Kong-based Pico Far East Holdings, announced its financial results for the quarter ended 31st July 2011. In the quarter, Pico Thailand’s revenues were US$7.9 million – that is a 28% increase over the same period in 2010. The company’s net profit in the period was US$424,000 – up 100% compared with the same quarter last year.

Pico Thailand also announced its results for the nine months ended 31st July. The company posted revenues of US$30 million, a rise of 58% compared with the same period in 2010. Net profit was US$1.95 million in the period, surging more that 277% compared with the first nine months in 2010.

The company attributed the increase in revenues and profit primarily to its knowledge communication business.

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