) - Loss on exchange rate - (32.95) - - - (32.95) Finance costs (34.18) (19.56) - - (34.18) (19.56) SHARE OF LOSS OF INVESTMENT IN JOINT VENTURES ON EQUITY METHOD (0.35) (0.65) - - (0.35) (0.65) LOSS BEFORE

ratio, however, decreased from 41.1% to 39.6% primarily as a result of improved operational efficiency and cost management especially in Outdoor media business. Consequently, the gross profit was up 26.7

shareholders' equity 6,032 60.0% 5,881 58.9% 2.6% Dusit Thani PCL Management Discussion and Analysis For 2Q18 and 1H18 P a g e | 10 Profitability ratio remained resilient in 2Q18, showing improved EBITDA margin

Total Equity 13,969 14,054  The Company posted net loss for the second quarter of 2018 amounted to THB 451 million which higher than last year quarter by THB 217 million mainly due to in last year

million, improved from Q1/2017 by Baht 30.7 million or 16.1% YoY. Moreover, GPM rate increased to 32.9% from 29.6% recorded last year. Details of GPM by business units are as follows: - Processed meat

) in Year 2018 was Baht 926.3 million, improved from Year 2017 by Baht 97.7 million or 11.8% YoY. Moreover, GPM rate increased to 32.3% from 30.6% recorded last year. Details of GPM by business units are

and listed securities. While in 2018 the Company recorded a significant amount of unrealized loss from mark-to-market price of investment in listed equity securities, coupled with the loss on sale of

. This was due to the improved performances of Banyan Tree Bangkok and Laguna Phuket hotels when compared to the same period last year.  Revenue from property development operations which comprise of

2/2018 was Baht 240.0 million, improved from Q2/2017 by Baht 31.7 million or 15.2% YoY. Moreover, GPM rate increased to 32.8% from 30.2% recorded last year. Details of GPM by business units are as

Quarter 3/2018 was Baht 229.7 million, improved from Q3/2017 by Baht 18.6 million or 8.8% YoY. Moreover, GPM rate increased to 32.3% from 31.2% recorded last year. Details of GPM by business units are as