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.
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