Bangkok, 5th June: The Thai-listed subsidiary of Pico Far East Holdings, Pico Thailand, released its results for the quarter ended 30th April 2020. Revenues in the quarter were US$4.0 million, representing a year-on-year decrease of 68%. The company posted a net loss of US$791,000, compared with a profit of US$492,000 in the same quarter last year.

The decrease in revenues was mainly due to the cancellation and postponement of most exhibition and event marketing activities in accordance with the Thai government’s measures aimed at limiting the spread of COVID-19.