Baht 81.76 million, whereas net profit of Baht 161.84 million in the same period of prior year, mainly results from; 1. Revenue from sales increased by Baht 103.76 million because the Company has Revenue

has had a positive impact on the export sector, and also by an increase in the number of tourists. As a result, the purchasing power of consumers in these areas has increased, especially in greater

1 Forth Smart Service Public Company Limited (FSMART) 2Q19 Management Discussion and Analysis Operational Summary in 2Q19  Net profit was Bt145mn, decreasing 3.4%YoY  Total revenue from core

Liabilities 936 914 860 Total Liabilities 956 930 873 Shareholder’s Equity 422 431 417 OPERATING RESULT (MILLION BAHT) Sales Revenue 3,646 3,979 2,884 Gross Profit 229 258 186 Operating Profit 113 131 97 Profit

and paid-up ordinary shares of TBSP. Consequently, the Company has rights or interests in the returns of TBSP and able to use power to direct the activities that has significant effect to the amount of

year were as highlighted below; (Unit : Million Baht) Separate financial statements Q2/2018 Q2/2017 % Change Sales 469 521 (10) Gross Profit Margin 379 396 (4) Selling and Administrative Expenses 54 51 6

Liabilities 914 784 925 Total Liabilities 930 797 935 Shareholder’s Equity 431 445 431 OPERATING RESULT (MILLION BAHT) Sales Revenue 3,979 3,727 2,811 Gross Profit 258 247 206 Operating Profit 131 126 97 Profit

Profit 223 280 26% 583 756 30% EBITDA 111 148 33% 288 396 38% Net Profit (Loss) for the Company 54 83 54% 131 210 60% Gross Profit Margin (%) 66.0% 65.4% (0.6%) 64.8% 66.1% 1.3% EBITDA Margin1 (%) 32.6

payment period days 67 66 71 Cash Conversion Cycle days 89 84 80 ial data and profitability ratioscFinan Sales revenues million baht 51,172 53,067 49,224 %hangeC (%) (3.6%) 7.8% 5.0% Gross profit million

on the opposite slightly increased, reflecting the increase of the purchasing power in durable goods and the effect from new model launch from many brands. For the period of January to June, total