cart rent fee and food and beverage income. In addition to increase golf revenue, this will help to improve the Company’ s image and surrounding housing projects. The new club house already started

trends, changes in market/industry environments, and internal factors such as policies, strategies, management, changes in business agreements with potential impacts on the operation, as well as other

(-Translation-) No. U.SET 012/2019 May 24, 2019 Subject : Setting up a new subsidiary in Romania To : The President The Stock Exchange of Thailand U City Public Company Limited (the “Company”) would

margin of 14.5% from the second quarter of 2018. The increase in the overall gross profit margin was mainly driven by the increase in the house brand revenue contribution that grew in conjunction with the

Limited (“the Company”) would like to submit this Management Discussion and Analysis for the six-month period ended 30 June 2019 with details as follows: Summary overview In the first six months of the year

Costs of rent and services constituted utilities, security & cleaning services, on- site personnel, land rental, depreciation & amortization, repair & maintenance costs and insurance premium and property

profit sharing in joint-venture by equity method of Baht 2.65 million increased from last year by Baht 1.25 million (2018: profit amounting of Baht 1.41 million). 15th Floor, Regent House Building, 183

margin of 15.3% from the third quarter of 2018. Overall increase of gross profit margin was mainly driven by the increase in house brand revenue contribution that grew in conjunction with the company’s

obsolete and slow-moving inventory in first quarter of 2019, the increase in house brand revenue contribution in conjunction with the company’s strategy, the increase in the gross profit margin of house

attract more customers. Sales proportion of other brand products in 2Q18 has been increased to approximately 40%. However the Company keeps focusing on house brand products to emphasize FN brand awareness