. The trend of Thai Baht value has directed to the volatility and weakened when compared with US Dollar after the US central bank announced the policy of raising interest rate in December. However, the

maintain sales. Furthermore, the Company’s direction to grow house brand products, demonstrated higher proportionate in Y2019 to 65.89% which increasing compared to 61.39% in Y2018, resulted in higher gross

2.75% from sale revenue compare to 2.55 million baht or 3.15% from sale revenue of last year, increased by 0.41 million baht or 16.08% increased, which increase by the same direction of sale increase at

million baht. And the net profit of the faucet business is 1.00 million baht, indicating that the operation of palm oil trading business is in the direction that better 2. Gross profit in the amount of

is effective in 2019. 2.2 The decreasing gross profit margin in the remaining portion comes from the indirect cost, which is a fixed cost, was not decreased in the same direction of the sales. Gross

trade via TV media and online including of the return from dividend. : To be long term investment that the Company has considered basing on positive tendency of current marketing direction which is

% compared to the same period of last year. The drop in costs was in the same direction with the drop in revenue, yielding the gross profit of THB 71.38 million (51% of total revenue), down THB 57.48 million

Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Management Discussion and Analysis Economic overview The tightening of COVID-19 containment measures in

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the year ended December 31, 2018 To: President The Stock

both financial and non-financial services, as we continue to gear up for being “The Bank of AEC+3” along with being a Regional Digital Bank. We have established our business direction primarily by