Bangkok, 6th March: The Thai-listed subsidiary of Pico Far East Holdings, Pico Thailand, recently released its results for the quarter ended 31st January 2020. Revenues in the quarter were US$10 million, representing a year-on-year decrease of 17%. The company also recorded a loss of US$271,000 in the quarter, compared with a profit of US$322,000 last year.

The fall in revenues was mainly due to weakness in Pico’s event business – especially special projects related to government agencies as well as a decrease in event marketing revenues.