Friday, June 14, 2013

Pico Thailand’s revenues fall 20% in Q2

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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