, decreased 5.0 million baht or 17.5 percent, as a result of controlling newspaper and magazines distribution cost to be consistent with sales and services income. Consolidated administrative expenses for the

dividend distribution to unitholders by allowing the deduction of overdue rental receivables from the calculation of the adjusted net income of the fund.      _____________________Note: The regulatory

increased in the amount Baht 185.8 million or 19.9% and reported profit before finance costs and income tax of Baht 1,525.6 million (2016 : Baht 1,303.4 million), increased in the amount of Baht 222.2 million

) (70.9 %) 2.7 % Gross Margin 364.5 28.0 % 374.4 29.1 % (2.6 %) Distribution Costs (197.2) (15.1 %) (148.8) (11.6 %) 32.5 % Administrative Expenses (63.2) (4.9 %) (57.9) (4.5 %) 9.0 % Profit before Income

income 23.88 59.13 (35.25) (59.61) Service income - 3.09 (3.09) (100.00) Other income 1.13 1.14 (0.01) (1.01) Total Revenues 25.01 63.35 (38.35) (60.53) Cost of construction 47.89 87.62 (39.73) (45.35

Management Discussion and Analysis for Interim Business Operation Financial Performance for the year ended Sebtember 30, 2019 (Unit : Millon Bath) 2019 2019 Inc/(Dec) % Construction income 23.88

251,595 (17,749) (6.1) Other income 11,388 6,841 13,288 8,602 4,547 66.5 Profit before expenses 285,643 298,845 278,937 260,197 (13,202) (4.4) Selling and distribution expenses 77,739 80,424 70,753 70,226

1,820.49 Distribution Expense 63.21 50.30 Administrative Expense 59.70 73.65 Finance Costs 21.95 24.29 Net Profit 271.25 32.34 Earnings per share (Baht) 0.679 0.081 The comparison between Second Quarter of

. Thomas Frakes and company’s stamp Expected Benefits 1. Increased income from the expansion of distribution channels as well as improved service for existing customer base; and more credibility by switching

12.34 -408.61 11.84 -6.88 18.72 -272.09 Other revenues 4.47 4.16 2.46 0.31 7.45 2.01 81.71 8.63 4.16 4.47 107.45 Distribution cost 5.68 6.56 2.88 -0.88 -13.41 2.80 97.22 12.24 -5.94 6.30 106.06