Bangkok, 10th September: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2020. Revenues in the quarter were US$3.9 million, dropping 51% compared to the same quarter in 2019. The company recorded a loss of US$421,000, compared with a profit of US$151,000 in the previous year.

The company attributed the weak results to the cancellation and postponement of many exhibition and event marketing activities in accordance with Thai government restrictions related to the COVID-19 pandemic.