68.57 110.27 (4.42) (15.04) (41.70) (37.82) Share of profit (loss) of associate (8.09) (9.68) (19.74) (20.51) 1.59 16.43 0.94 4.58 Net profit 16.87 19.70 48.83 89.76 (2.83) (14.37) (40.93) (45.60

) Share of profit (loss) of associate (5.44) 0.06 (9.38) (11.64) (5.50) (9313.56) 2.26 19.41 Net profit 7.51 23.96 33.68 31.95 (16.45) (68.66) 1.73 5.41 - Operational profit amounted to Baht 12.95 million

18.27 12.50 0.48 6.67 5.77 46.16 Operational Profit 36.43 31.64 80.89 55.82 4.79 15.14 25.07 44.91 Share of profit (loss) of associate (10.99) (17.40) (10.83) (31.43) 6.41 36.84 20.60 65.54 Net profit

) (15.07%) Selling expenses (15,590) 2.97% (14,594) 3.62% (996) (6.82%) Administrative expenses (123,103) 23.45% (137,743) 34.21% 14,640 10.63% Share of profit (loss) from investment in associate 433 0.08

2,528.2 Gross margin, % 27.84% 25.84% 30.99% SG & A 471.4 466.2 484.6 Operating Profit* 527.1 409.9 +28.6% 616.0 -14.4% Net Profit per F/S 558.0 516.7 +8.0% 672.3 -17.0% 15.31% 15.02% 18.35% [Remark

expenses 30 28 2 7% 8.0% 7.3% Finance costs 11 13 (2) -18% Share of loss from associate 0 - Income tax expense (1) 1 (3) Profit for the quarter 17 (7) 24 4.6% (1.8%) Consolidated financial information (Unit

Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 7 of 8 Share of profit (loss) from an associate and joint ventures The share of profit (loss) from an

in associate 2.14 1.44 0.70 48.6% Income tax expenses -49.39 -67.95 18.56 -27.3% Net profit 200.70 270.07 -69.37 -25.7% Minority interest in subsidiary -57.11 -61.89 4.78 -7.7% Net profit of the

104.79 1.35 1.3% Total expenses 3,066.16 2,946.38 119.78 4.1% Earning before interest and tax 341.41 279.67 61.74 22.1% Finance cost -4.83 -8.02 3.19 -39.8% Share of profit from investment in associate

of income from investment in associate 0.42 0.25 0.17 68.0% Corporate Income tax expenses -14.11 -14.83 0.72 -4.9% Net profit for the period 56.90 59.32 -2.42 -4.1% Profit Sharing for non-controlling