were 8.34% of total sales, slightly increased from 8.24% in 2018. Share of Profit from Associated Company The consolidated share of profit from associated companies based on the equity method in 2019 was

contribute high gross margin; 4) marketing activities to help dry stock at trade stores and prepare for new packaging launch in Q3; and 5) increased administrative expenses from higher personnel expenses to

due to the 5 months consolidation of Trans.ad Group. SG&A to sales ratio decreased significantly from 33.5% in 2017 to 30.0% in 2018. Net profit attributable to the equity holders of the Company

December 2019 31 December 2018 Increased (Decreased) Percentage Liabilities and shareholders’ equity Current liabilities Overdraft and short-term bank borrowings 238.95 59.18 179.77 303.77% Trade and other

and equity (THB million) % out of total liabilities and equity Short term loans from financial institutions - 0.0% 230 11.4% Trade & other payables 336 20.6% 164 8.2% Accrued expenses 77 4.7% 57 2.8

debt to equity ratio was 0.42 time and the consolidated net debt to equity ratio was considerably low at 0.27 time. Financial Highlights 1Q 2018 1Q 2017 Change THB million % Sales THB million % Sales THB

, as at March 31, 2019, the consolidated debt to equity ratio was 0.43 time and the consolidated net debt to equity ratio was considerably low at 0.26 time. Overall Financial Performance and

Group, as at June 30, 2019, the consolidated debt to equity ratio was 0.42 time and the consolidated net debt to equity ratio was considerably low at 0.26 time. Overall Financial Performance and

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

. 61% down from 3Q2017. For capital structure of the Group, as at September 30, 2018, the consolidated debt to equity ratio was 0. 43 time and the consolidated net debt to equity ratio was considerably