Bangkok, 8th September: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2023. Revenues in the quarter were US$5.1 million, which dropped 33% from the same quarter in 2022. The company posted a loss of US$225,000 in the quarter, compared with a loss of US$64,000 during the same period in 2022.

The company attributed the decrease in revenue to uncertainty regarding the establishment of the new government, which has led to the postponement of several projects.