net sales ratio (%) = (Selling and distribution expenses + Administrative expenses) / Total revenues from sales EBIT margin (%) = (Profit before income tax expense + Finance Cost) / Total revenues

SNAPSHOT & ANALYSIS CONSOLIDATED P&L SNAPSHOT THB (mn) 1Q 2017/18 4Q 2017/18 1Q 2018/19 QoQ (%) YoY (%) Operating revenue 852 1,128 1,077 -4.6% 26.5% Cost of sales 356 406 392 -3.5% 10.1% Gross profit 496

has decreased when compared to the same period of last year due to decreasing of The Company’s sales and services revenue but some of manufacturing overhead expense was fix. Net Profit The company’s net

, increased by 10.62 million baht or 30.18% due to the restructuring of investment portfolio and the outperformance of SET Index. 4. The commission and brokerage expenses and other underwriting expense in this

decreased when compared to the same period of last year due to decreasing of The Company’s sales and services revenue but some of manufacturing overhead expense was fix. Net Profit The company’s net profit in

million or 9.1%, in line with the growth of net written premium that rose up by Baht 76.91 million or 17.9%, when the written premium increased, associated expense grew such as commission and brokerage

mainly due to the followings: (a) Lower contribution margin recorded resulted from unfavorable model mix; and (b) Higher tax expense recorded during the 3-months period ended 30 April 2019 by Baht 2.82

which imposed a compensation package to be 400 days for those whose service years of more than 20 years, resulted in an additional expense of THB 7.73M; while 6 months figure rose by 3%. Share of profit

-O-Y or Baht 17.2 million mainly from variable expenses that rose along with revenues, annual salaries adjustment, while interest expense lower as the rate down from 4.31% in 2017 to 3.60% in 2018, and

that, operating expenses rose by Baht 5.42 million because of the increase of the amount of employee benefit obligations in according with the accounting standard. The ratio of net claim expense over