decreased by 13.7% from 9M/2019. • The decrease in net profit margin was mainly due to the reduction in total revenue from sales in a greater proportion than the reduction in operating expenses from the cost

production cost and selling expenses. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2017 Year 2016 Increase / (Decrease) Million Baht % of Total

cost from relocating some product from the old production line to the new one; 4) higher excise tax as well as sugar tax following the Excise Act, B.E. 2560, effective since 16 September 2017; 5) higher

increase by Baht 42.70 million or an increase of 11.57 percent from the same period of previous year, due to effective management of production cost and selling expenses. Details of the changes or impacts

period of nine months Movement for the third quarter Movement for the period of nine months 2020 2019 2020 2019 Increase (decrease) % Increase (decrease) % Cost of sales and service 462.83 259.66 1,347.77

third quarter For the period of nine months Movement for the third quarter Movement for the period of nine months 2019 2018 2019 2018 Increase (decrease) % Increase (decrease) % Cost of sales and service

the decrease in total revenue as well as the full-quarter impact of the COVID-19 pandemic. • However, Net profit margin in Q1/2021 was 6.6% which increased by 0.7% from Q1/2020 as a result of effective

Owner of the Company 2,131.87 2,048.02 83.85 4.1 Earnings per share (Baht) 1.47 1.41 Fuel Cost 8,296.77 8,090.95 * Restated Increase (Decrease) % Quarter 2 The operating result according to the

were 4%. 1.2 Cost of sales and service, Administrative expenses Unit: Million Baht) For the year Movement 2020 2019 Increase (decrease) % Cost of sales and service 1,835.84 1,010.75 825.09 81.63

. - Farm business saw its income decrease Baht 6.11 million, due to less delivery of raw milk to the customers compared to those of the same periods last year. The decreases were 8.61%. 1.2 Cost of sales and