2016 Year 2015 increase (decrease) Million Baht % Million Baht % Million Baht % Revenue Revenue from immovable property sales 708.62 89.23% 919.19 98.12% -210.57 -22.91% Other income 85.57 10.77% 17.60

133.79 111.77 83.54 Selling expenses 22.33 8.41 13.92 165.52 Administrative expenses 37.18 21.61 15.57 72.05 Finance costs - - - - Profit before income tax 42.67 15.90 26.77 168.36 Income tax 8.77 3.10

estate projects. These projects could generate recurring income when completed. The company’s financial results during the nine months of 2017 can be summarized as follows: During the first 9 months of

%) 3.Others Income 29.91 21.76 14.40 4.Income from sales unused land 132.59 5.Selling &Admin Expenses , Interest Exp. 205.96 210.06 236.38 6.Corporate Tax 59.92 35.39 45.42 7.Net Profit Before Reserve

projects occurred. The group received positive effect from installation work 78.33 million Baht, from 71.84 million Baht in the year 2016. In 2017, there were other Income at 30.56 million Baht decreased

follows : Statement of Comprehensive Income (Unit : Million Baht) Details 31 Dec 2561 31 Dec 2560 Increased (Decreased) % (%) Revenues from construction contracts 1,387.08 1,019.29 367.80 36.08 - EPC

the Year as at 31 December 2018 To The President The Stock Exchange of Thailand We, ZEN Corporation Group Public Company Limited (“the Group”), are please to inform you our management discussion and

%) 3.Others Income 20.64 29.91 21.76 4.Income from sales unused land - 132.59 5.Selling &Admin Expenses , Interest Exp. 239.98 205.96 210.06 6.Corporate Tax 43.77 59.92 35.39 7.Net Profit Before Reserve

employee salaries, auditing fees and fees related to business operations) and corporate income tax amount to Baht 2.62 million caused by the transfer of ownership of the condominium units at Patong, Phuket

investors to better understand the Company and its subsidiaries’ 1st quarter of 2019 reviewed financial statements. An Analysis of Performance * Analysis of Income The Company and its subsidiaries recorded