News this week: Pico Thailand, the Thai-listed
subsidiary of Pico Far East Holdings,
announced its results for the quarter ended 30th April 2012. Revenues
in the quarter were US$10 million - a decrease of 20% compared with the same quarter
last year. The company attributed the decrease of revenue to weakness in its event
marketing and exhibition businesses. Net income in the quarter was US$997,000 -
represents a drop of 6.4%.
Pico Thailand also
reported the results for the six months ended 30th April. Revenues in
period were US$23 million – an increase of 11% compared with same period in 2011.
According to Pico Thailand’s management, the increase in revenue was due to the
revenue recognition of BOI Fair in the first quarter of the year. The company
recorded a net profit of US$2.0 million in the period resulting in year-on-year
profit growth of 35%. Earnings per share in the period were Baht 0.357
(US$0.0116).
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