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Management Discussion and Analysis, Q1/2018 Page 1/4 JMT
water management business 38.34 9.35 310.05 Selling expenses 13.57 16.52 (17.86) Administrative expenses 20.88 17.30 20.69 Finance cost 6.65 4.55 46.15 Profit before income tax income (expenses) 9.41
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increased in revenue of THB 122 million or was equivalent to a gross profit margin of 53%, which was essentially unchanged from the same period last year. 3. Administrative costs and management compensation