Pico Thailand posts decline in revenues and profit

Bangkok, 9th September: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2019. Revenues in the quarter were US$8.2 million dropping 43% compared to the same quarter in 2018. The company’s profits in the quarter also recorded a decline – down 64% year-on-year to US$151,000.

The company attributed the decrease in revenues to weakness in its exhibition business and its event marketing business. According to the company, revenues from its exhibition business fell by 40%. Pico’s event marketing business decreased by 31% - primarily due to a reduction in spend from key clients.