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Pico (Thailand) fiscal Q1 profit climbs YOY

Pico (Thailand) Public Co. Ltd. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 10.1 million baht, a rise from 1.3 million baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.1% from 0.6% in the year-earlier period.

Total revenue rose 48.3% on an annual basis to 327.0 million baht from 220.6 million baht, and total operating expenses increased 40.2% from the prior-year period to 313.9 million baht from 223.9 million baht.

Reported net income grew year over year to 12.5 million baht, or 6 satang per share, from 517,440 baht, or 0 satang per share.

As of March 11, US$1 was equivalent to 35.05 baht.