Friday, December 13, 2013

Pico Thailand revenue and profit drop

News this week: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Hong Kong-based Pico Far East Holdings, released its results for the financial year ended 31st October 2013. The company posted revenues of US$33 million, a year-on-year decrease of 19%. Pico Thailand recorded a net profit of US$1.3 million this year, declining 40% compared with the previous year. Earnings per share in the financial year were Baht 0.174 (US$0.0056).

Pico Thailand claimed that the decrease in revenue and net profit was due to a lack of large-scale projects during the financial year. In the previous year, Pico Thailand generated higher revenues from its knowledge communication business and BOI Fair 2012.

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