News this week: Pico Thailand, the Thai-listed subsidiary of Hong Kong-based Pico Far East Holdings, has announced its results for the six months ended 30th April 2011. Revenues for the period were US$22 million – an increase of 73% compared with same period in 2010. The company recorded a net profit of US$1.5 million in the period, three times the profit of US$452,000 recorded last year.
Pico Thailand also reported the results for the quarter ended 30th April. Revenues in the quarter were US$13 million, a jump of 65% compared with the same quarter last year. Net income in the quarter was US$1.1 million, which is an increase of 70%.
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