sales volumes. The sharp decline in the Finished Goods prices has also led to a decline in Raw material prices and the Company suffered devaluation loss on Finished Goods stock, Raw Material in stock and

LEASEHOLD REAL ESTATE INVESTMENT TRUST AIM INDUSTRIAL GROWTH FREEHOLD AND LEASEHOLD REAL ESTATE INVESTMENT TRUST AIRA CAPITAL PUBLIC COMPANY LIMITED AIRA FACTORING PUBLIC COMPANY LIMITED AIRPORTS OF THAILAND

segment In the Third quarter performance of 2017, the Company and its subsidiaries’ revenues from sales of real estate increased and 9-month performance of 2017, the revenues from sales of real estate

for Bangkok real estate business in 2019 and necessity to increase caution in business operation, the management maintain positive view over luxury condominium1 market, appraising from sales volume of

detail as follows: I. The operating revenue breakdown by business segment In the third quarter and 9-month period of 2019, the Company and its subsidiaries’ revenue from sales of real estate decreased from

which affected employment and domestic demand*.  However, the Company sees that the lower interest rate gives a positive impact to overall real estate industry due to a potential lower cost for both, real

10.06% as compared to 2016. However, higher proportion of cost of sales to net revenues from sales increased from 48.69% to 49.08% as a result of increasing prices of goods and raw materials including

million, because the Company had order to be used for the production of raw material to customers increased. - Investment in associated company decreased for 29.57 million Baht, because share of profit of

increased 31% are results of volume impact in domestic market and also selling price adjustment to trade, regarding to raw material cost increase. ⚫ Total expenses increase 30% are mainly reflected by

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