­Bangkok, 13th December: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its full-year financial results for the year ended 31st October 2022. The company posted a net profit of US$538,000 this year, compared with a loss of US$864,000 last year. Earnings per share of the financial year were Baht 0.092 (US$0.0024).

Pico Thailand recorded total revenues of US$29 million, up 74% compared with the year before. The company attributed the increase in revenues in part to the Thai government’s easing of COVID restrictions and the economic recovery that followed that policy decision.