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(From Thai Press Reports)
Section: Corporate News - Bottom line worse after SEC orders new financial statement from firm, The Nation reports.
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 …