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Picnic's Q1 loss soars on earnings revision.
(From The Nation (Thailand))
Byline: The Nation.
Bottom line worse after SEC orders new financial statement from firm
The first-quarter net loss of embattled Picnic Corp Plc has swelled by 114.74 per cent to Bt819.8 million, following a revision of its quarterly earnings ordered by the Securities and Exchange Commission (SEC).
The company's earlier financial statements claimed a net loss of Bt381.77 million in the first quarter.
After the revision, Picnic saw its financial results slump by 1,247 per cent from a Bt71.44-
million profit in the corresponding period last year.
The company said in a filing with the …
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