Pico Thailand posts weak results

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 2021. Revenues in the quarter were US$2.1 million, dropping 45% compared to the same quarter last year. The company recorded a loss of US$714,000, compared with a loss of US$421,000 in the same period of 2020.

The company attributed the weak results to government measures to limit the spread of the third wave of COVID-19 since early April 2021, resulting in the cancellation or postponement of most exhibitions and marketing events.