same quarter of last year. ⚫ Increase in cost of goods sold are mainly impact to minus in bottom line of 7.1 million baht. ⚫ Rising in selling expenses of 15% are from increasing in salesforce

positive same-store-sales growth during 2017 and (3) the increased sales of raw material to franchisees. Franchise fees income increased from THB 15.1 Mn in 2016 to THB 56.5 Mn in 2017, an increase of THB

increase was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth during 2017 and (3) the increased sales of raw material to franchisees. Revenue from franchise fees

) positive same-store-sales growth during 2017, (2) opening new branches and (3) increased sales of raw material to franchisees. Franchise fees income increased from THB 15.1 Mn in 2016 to THB 56.5 Mn in 2017

of THB 375.9 Mn or 21.3% and was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth and (3) the increased sales of raw material to franchisees. Franchise fees

period as compared to a profit of Baht 4 million in the same period last year. The loss in the current period is mainly from loss of Gallery operation while the profit in the prior year was mainly from

million and Baht 293.3 million or equivalent to 46% and 69% of total cost of sales and services, respectively. In 2018, cost of goods sold significantly increased by Baht 212.4 million or 263% from the same

year. Farm business saw is income increase Baht 20.08 million, due to more delivery of raw milk to the customers compared to those of the same periods last year both. The increases were 46%. 1.2 Cost of

same way of sales, but increase in less portion of sale increase. So it seem that this decreasing of cost of sales or increasing of gross margin was due to (a) the company had developed new formulas with

decreased by Baht 61 million mainly relates to lower profit from Banyan Tree China Pte. Ltd. Finance cost decreased by Baht 26 million as compared to the same period last year due to the capitalization of