Pico Thailand Posts Strong Profits
Pico Thailand, a subsidiary of Hong Kong-based Pico Far East Holdings, announced its financial results for the quarter ended July 31. In the quarter, Pico Thailand’s revenues were US$7.9 million – that is a 28 percent increase, compared with the same period in 2010. The company’s net profit in the period was US$424,000 – up 100 percent, compared with the same quarter last year.
Pico Thailand also announced its results for the nine months ended July 31. The company posted revenues of US$30 million, a rise of 58 percent, compared with the same period in 2010. Net profit was US$1.95 million in the period, surging more than 177 percent, compared with the first nine months in 2010.
The company attributed the increase in revenues and profit primarily to its knowledge communication business.