Bangkok, 10th June: Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, has released its results for the quarter ended 30th April 2022. Revenues in the quarter were US$7.3 million, representing a year-on-year increase of 55%.

The company posted a net profit of US$16,000, compared with a net loss of US$321,000 in the same quarter last year. Pico’s management attributed the results to the Thai government’s easing of COVID-19 controls, as well as the economic recovery that has begun in Thailand.