continued to grow and signaled future investment. Tourism–related businesses expanded thanks to a growing number of Chinese tourists. On the other hand, expansion of real estate and construction businesses
confidence and business sentiment. The continual expansion could help offset the slow disbursement of public investment in this quarter. All in all, economic drivers continued to improve particularly
transferred. The THB 39.6mn increased in administrative expenses was because the Company is in an expansion period. In 9M19, the Company’s distribution costs and administrative expenses was THB 711.1mn
Management Discussion & Analysis Q3/2022 Expansion of After You Branches According to Higher Demand of Customers During Q3/2022, the Company opened a new After You dessert shop at Central Festival East Ville
café which has a higher gross profit margin than sales from other distribution channels. The Company has also displayed the ability to manage cost efficiently. G R O S S P R O F I T a n d G R O S S P R O
expansion of domestic construction industry and the growth of new Shopping complexes and renovated stores, together with the turnkey projects balance brought forward from Q4/2017 completed and recognized
-time incurred of approximately Baht 12 million. In addition, the opening of the new Medical Excellence Center and the expansion of the subsidiary’s laboratories have driven the cost of service, expertise
driven by the continued growth in construction industry and further renovation/expansion of retail stores and new Shopping complexes despite revenue recognition delays from some turnkey projects to next
expansion of company’s internal activities. Nevertheless, the rate of increase is less than the growth rate of company’s revenue; therefore, SG&A/Sales decrease from 12.77% in Q3/2018 to 11.00% in Q3/2019. 3
remained sluggish, due to weak purchasing power and the lack of any specific measures from the government. In the second half of 2017, the economy moved in a positive direction driven by industrial expansion