equipment rental, while SG&A was flat and dropped QoQ as marketing activities slowed down. EBITDA (pre-TFRS16) was Bt19,576mn, increased 3.8% YoY and 1.1% QoQ with a margin of 45.7%. Net profit (pre- TFRS16

indicated that in the third quarter of 2019, credit demand from the business sector improved from the previous quarter, due to loan demand from large corporates, particularly for working capital in the

Margin 60.9% 60.9% ค่าใชจ่้ายในการบรหิาร 131.2 135.9 (4.7) (3.5%) ค่าใชจ่้ายรวม 509.4 500.3 9.1 1.8% EBIT 468.2 449.3 18.9 4.2% EBIT Margin 47.9% 47.3% ค่าเสือ่มราคาและค่าตดัจ าหน่าย 138.7 136.1 2.6 1.9

increasing in some expenses such as maintenance. However, gross profit margin just slightly dropped to 58.17% since the company was able to save the electricity cost from stop transferring water from

24.06 4.43 26.99 6.55 2.93 12.18 Total cost of sales 543.32 100.00 412.35 100.00 (130.97) (24.11) Proportion of cost of sales to sales revenue (%) 32.45 33.00 Gross Profit Margin (%) 67.55 67.00 Note: /1

of cost of sales to sales revenue (%) 33.00 35.42 Gross Profit Margin (%) 67.00 64.58 Note: /1 Other costs of goods sold mainly comprise warehouse rentals, utility charges and other expenses related to

Profit 850.96 817.65 (33.31) (3.91%) Gross Profit Margin 59.34% 62.41% Raw Water Distribution by Customer Group (Internal usage for tap water production is included) Industrial Estate 63.63% Industrial

immovable property 404.849 165.165 239.68 145.12% Gross profit 75.459 86.593 -11.13 -12.86% Gross profit margin (%) 15.71% 34.40% -18.68% 3. Gross profit For the six-month period of 2016, gross profit was at

67.29 million, representing a gross profit margin of 15.61 percent. Costs of sales of housing units in the projects were Baht 99.51 million with a gross profit of Baht 78.96 million, representing a gross

cost increased from purchasing raw water from private source as well as the depreciation and amortization from investment to increase raw water distribution capability. Therefore; gross profit margin of