12,416 12,811 Gross profit margin (%) 25.47% 26.48% 27.29% Consolidated financial ratios 2017 2016 2015 Financial data and profitability ratios (continuous) Operating expense (include Research and

which operate in February 10, 2018 (last year has expense from registering the company only), In addition, the Group have adjusted employee and management remuneration as usual every year. As a result

Revenues 1,570,917,679 2,461,057,268 (890,139,589) (36.17) Cost of Goods Sold and Services 1,534,434,537 2,399,582,723 (865,148,186) (36.05) Sales & Administration Expenses and Financial Cost and Tax Expense

was THB 118 million, a decrease of 3.3% yoy, mainly from a decrease in revenue sharing from Le Cordon Bleu Dusit due to additional expense in relocating to the new location as well as for business

) Million baht % Total Revenues 424.76 444.51 (19.75) (4.44) Cost of Goods Sold and Services 448.36 428.19 20.17 4.71 Sales & Administration Expenses and Financial Cost and Tax Expense 20.02 22.54 (2.52

mainly due to the loan interest expense from the Lofts Asoke project was recognized as financial cost after the construction completed in December 2018. Moreover, in comparison with 2Q18, in 1Q19, the

) (257.6) (22.9%) Share of Profit from Investments in Associates and Joint Ventures 246.8 685.9 (64.0%) 906.1 936.7 (3.3%) Income Tax (Expense) Income (19.8) (4.8) 311.9% (26.6) 13.1 (303.7%) Profit

of 2.08 percent and increase in raw material cost, salary and benefits of the employees, electricity expenses, gas expense and repair and maintenance expenses. Cost of services was Baht 96.07 million

), significantly decreasing by 55% as compared to the same period last year of 2,554 million Baht. This comprised of: selling expense of 843 million Baht; decreased by 22% as compared to the same period last year of

from same period of last year amount Baht 4.61 million or 22.51 per cent. Due to the administrative expenses of the new business which operate in the 1st quarter of 2018 (last year has not expense item