profit margin of the Company was derived from the adjustment in production plan to reflect the slowdown in sales revenue during the first half which resulted in stable production cost including

adjustment on April 1 And state policies that focus on the distribution of the economy to the community level to increase the people's income. It is the driving force for the company sales continue to rise

abovementioned operating loss of Baht 31.46 million and the adjustment of the actuarial loss and exchange rate conversion of Baht 3.46 million and - 0.25 million, respectively. Project on hand as ended 30 June

, higher cost of goods sold from the adjustment in production plan, sales expense to sales revenue ratio that adjusted upward from the same period of the previous year and rising administrative expenses from

liabilities 163.82 52.56 140.29 46.38 (23.53) (14.36) Total shareholders’ equity 147.87 47.44 162.20 53.62 14.33 9.69 Note: 1 During 2018, the Company and its subsidiaries have recorded an adjustment of land

and Company Secretary 695.1 - 15.7 - 68.3 - 87.6 - 355.8 - 2.2 165.5 Beginning 31 Dec 2019 Operating Activities Interest and Tax Investing Activities Financing Activities Adjustment and different in FX

factors totally at the amount of 11,775 million baht. The Group has elected to recognize the cumulative effect of initially adopting of TFRS 9 and TFRS 16 as an adjustment to the beginning balance of

Equity 46.3% 46.2% 42.0% Financial Ratio 5 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis 2020 Management Outlook The Company focuses on business adjustment

Company”) still has carried adjustment of the business strategy to focus on the large project. Moreover the Company still development quality of product and service followed by client’s standard that

% gross profit margin, respectively. The increase of gross margin was due to the additional adjustment of the cost forecasting since end of 2019 causing a reduction of the gross profit margin. Cost of