Pico Thailand Reports Strong Growth, Invests in AES
Pico Thailand, the Thai-listed subsidiary of Hong Kong-based Pico Far East Holdings, released its results for the financial year ended Oct. 31. The company posted revenues of US$45million, an increase of 52percent,compared with the year before. Pico Thailandrecorded a net profit of US$2.5million this year,also a 52 percent jump, compared with the previous year.Earnings per share in the financial year were Baht 0.646 (US$0.021).
In other Pico news, Pico Thailand and Singaporean event organiser MP International have reportedly invested in Asian Exhibition Services (AES), a Bangkok-based event management company launched earlier this year. Financial details of the deal were not disclosed.
AES provides international support services to international organisers travelling to Thailand and other regional shows in Asia. The company is headed by David Aitken, previously an executive at Reed, Montgomery and Allworld. Aitkin previously has worked on a wide variety of exhibitions including: ProPak Asia in Bangkok, Plastics and Rubber Vietnam, the launch of NGV India in New Delhi and Mumbai and ASCOPE in Bangkok.
Aitken said, “The AES, Pico Thailand and MP International partnership will bring new business to the region and provide a highly professional solution to new players wanting to enter the market, as well as allowing new shows to flourish in Asia.”