break. 2. Cost of sales was 233.11 million Baht or at 112.86% of sales which increased from the 2nd quarter of last year of 107.58 % and increased from the last quarter of 105.37% . That was due to low

to higher unit production costs following the low demand volumes and more intensive competition among lower market demand. In terms of expenses in the current quarter, the company continues to control

% because last year was renewable energy construction projects had low gross profit rate. The loss from sale business of year 2018, the Company has a loss from sale income of Baht 1.68 million or 0.23

-Social Security 215.54 232.56 -7% Revenue from Social Security 177.35 190.21 -7% Revenue from Hospital Operations 392.89 422.77 -7% Cost of Hospital Operations 276.56 294.32 -6% Adj. staff benefit - 8.15

at June 30, 2018, the consolidated debt to equity ratio was 0.45 time and the consolidated net debt to equity ratio was considerably low at 0.30 time. Financial Highlights 2Q 2018 2Q 2017 Change 6M

/2016. It decreased 19,476,166.00 Baht or 50.02% due to the low purchasing power which caused the number of houses sold in Sivarat 9 Sivarat 10 and Sivarat 11 projects dropped. The cost of sales in Q2

Baht or 22.48% due to the low purchasing power which caused the number of houses sold in Sivarat 9 Sivarat 10 and Sivarat 11 projects dropped. The cost of sales in Q3/2017 was 9,621,522.37 Baht, compared

50.41%. It came from the sales of low-cost merchandise which was in higher portion. Total cost of sales and administrative expense were 140.40 million baht, it decreased from the same period of previous

and the consolidated net debt to equity ratio was considerably low at 0.25 time. GFPT Public Company Limited Interim Management Discussion and Analysis for the 3rd Quarter 2019 Page 2 of 13 Overall

% Advertising income 7.52 0.9% 1.85 0.2% 2.71 0.3% 46.5% -64.0% Total revenue from core business (3 items) 848.81 100.0% 798.65 100.0% 804.20 100.0% 0.7% -5.3% Cost of services (664.22) -78.3% (629.36) -78.7