significantly, but the price of imported raw materials were on a continuous upward trend, thus the cost of raw material increased consequently. Total labor cost including requirement of outsourced labors

Development Company Limited. 5. Expected Benefit 1. Supporting the company’s policy to diversify in to Property Business 2. To enable continuous growth in the Company’s assets, profits, and cash flows. 6

% in previous year to 26.43% due to change in product sales mix of general merchandise and the enhancement of directly sourced private-label goods’ profit margin, as well as the continuous efficiency

the higher expenses from organizing events, advertising and public relation to promote Indian series and other series. Such promotion strategy resulted in a continuous growth in revenue form program

mix of both general merchandise and directly sourced private-label goods. Furthermore, there was a continuous improvement in product assortment planning from HomePro. 3. Selling and administrative

compare to 43.37 million baht or 15.28% last year, Reduced by 1.28 million baht or 2.95% decreased. This decrease is the came from better management to compact the organization structure and continuous

directly sourced private-label goods, as well as the continuous efficiency improvement in product purchase planning of HomePro, Mega Home, and HomePro in Malaysia. 3. Cost of rental and service was Baht

bearing liabilities – cash and cash equivalents 2) Leverage Q4 and FY use annualized EBITDA for the previous 4 quarters 3) ROFA = (Net profit + Depreciation)/ Average (Q4 2019 and Q4 2018) of property

Note: 1) Net Debt = Interest bearing liabilities – cash and cash equivalents 2) Leverage Q2 and FY use annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q2 2018 and Q4 2017) of property

DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 JUNE 2019 4. Financial Ratios Note: 1) Net Debt = Interest bearing liabilities – cash and cash equivalents 2) Leverage Q2 and FY use annualized EBITDA 3) ROFA = (Net