Pico Thailand posts a profit in Q1

Bangkok, 11th March: Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, recently announced its results for the quarter ended 31st January 2022. Revenues during the quarter were US$6.8 million, representing a year-on-year increase of 19%. The company posted a tiny profit of just US$7,000 during the quarter, compared with a loss of US$53,000 in the same quarter of 2021.

Beginning in November 2021, the Thai government began to ease its health and safety measures designed to limit the spread of COVID-19. As a result, Pico Thailand’s revenues from its exhibition-related business increased by 19%. Its museum business grew impressively from just US$114,000 last year to US$709,000 in the most recent quarter.