THB 823 million, reduced by THB 98 million or 10.60% down from 2Q2016. The revenue from feed segment continued declining in 2Q2017 due to intense competition of feed business in Thailand for both animal

, dropped by 5.6% as well. Declining prices of flat steel in China in Q2/2017 Source: Steel Business Briefing Overview of continuous industry of steel shows a downtrend compared with the same period last year

strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816

profit in 3Q19 was Bt157.80mn, decreasing 10.4% YoY and 3.6% QoQ, as a result of declining in core revenue, kiosk improvement to support new business, and fully-depreciated kiosk maintenance. 2) Net profit

Margin (%) 2.33 2.40 2.50 Current Ratio (Times) 1.34 1.43 1.43 Debt to Equity Ratio (Times) 2.16 1.79 1.82 Book Value per Share (Baht) 2.16 2.22 2.34 Net Profit per Share (Baht) 0.46 0.45 0.12 Interim

2.5% compared with QoQ, primarily due to declining of write off obsolete inventories during the period. The Company reported shutdown expenses for inventory management against sales volume in 3Q17 at

Current Ratio (Times) 1.33 1.34 1.43 Debt to Equity Ratio (Times) 2.27 2.16 1.79 Book Value per Share (Baht) 2.11 2.16 2.22 Net Profit per Share (Baht) 0.40 0.46 0.45 Yearly Management Discussion and

increase of gross profit from 28 percent of the year 2016 to be 30 percent of the year 2017. The main result caused from the price of raw material was in declining trend and also the Company could manage the

gross profit from 28.36 percent of the 1st quarter 2017 to be 29.92 percent of the 1st quarter 2018. The main result caused from the quantity and price of raw material was in declining trend. For the cost

or ROA 16 (%) 8.32 10.56 10.43 Return on Fixed Assets 17 (%) 23.25 25.92 25.51 Total Assets Turnover 18 (times) 1.16 1.09 1.03 Leverage Ratio Debt/Equity Ratio 19 (times) 0.59 0.50 0.43 Net Debt to