Friday, September 13, 2013

Pico Thailand’s profit up 75%, revenue down 5% in Q3

News this week: Earlier this week, Pico Thailand, a subsidiary of Hong Kong-based Pico Far East Holdings, announced its financial results for the quarter ended 31st July 2013. In the quarter, Pico Thailand generated revenues of US$8.0 million, which is a 5.0% year-on-year decrease. However, net profit in the quarter increased 75% to US$281,000 due to a drop in selling and administrative expenses.

Pico Thailand also announced its results for the nine-month period ended 31st July. Revenues in the period were US$24 million, a decrease of 22% compared with the same period last year. Net profit was US$569,000, compared with a profit of US$2.1 million in the first nine months in 2012. Earnings per share in the period were Baht 0.08 (US$0.0026).

The company attributed the drop in revenues to lower revenues from its exhibition business as well as the completion of the “Teacher TV” project in mid 2012.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

No comments: