Pico Thailand's Profit Up 75%, Revenue Down 5% in Q3

September 15, 2013

Earlier this week, Pico Thailand, a subsidiary of Hong Kong-based Pico Far East Holdings, announced its financial results for the quarter ended 31st July 2013. In the quarter, Pico Thailand generated revenues of US$8.0 million, which is a 5.0% year-on-year decrease. However, net profit in the quarter increased 75% to US$281,000 due to a drop in selling and administrative expenses.

Pico Thailand also announced its results for the nine-month period ended 31st July. Revenues in the period were US$24 million, a decrease of 22% compared with the same period last year. Net profit was US$569,000, compared with a profit of US$2.1 million in the first nine months in 2012. Earnings per share in the period were Baht 0.08 (US$0.0026).

The company attributed the drop in revenues to lower revenues from its exhibition business as well as the completion of the “Teacher TV” project in mid-2012.

Add new comment

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Image CAPTCHA
Enter the characters shown in the image.

Partner Voices

With more than 2,000 rooms being added to Dallas’ hotel inventory in the coming years, the city is experiencing the second-largest hotel boom in the nation. From top brands like Virgin Hotels to independent and interesting properties, like HALL Arts Hotel, Dallas boasts a hotel type and price point for every preference and budget.