, private consumption and tourism. Both private and public investments remain largely at stable levels whilst consumer spending is constrained due to high household debt levels, decline in agricultural

represented gross profit margin of 29.7%, a decline from 34.4% in Q3/2016 as a result of higher cost per unit due to lower utilization. However, gross profit margin improved QoQ from 27.6% in Q2/2017 due to

exports which rose by 5.3% YoY as well as continued recovery in private consumption which expanding by 3.1% YoY. Nevertheless, Thailand's advertising industry reported a decline of 6.0% YoY to THB 101,445mn

behavior shifts OOH and online, so too will advertiser spending allocation. Hence, it is expected that advertising expenditures in the TV sector and traditional media to continue to decline and be surpassed

total revenue in Q4/ 2016. The slight decline in gross margin incurred due to the recognition of project with lower gross margin in this quarter. Lastly, net profit is equivalent to 21.94 million THB or

-18 and continued investments in network, D&A rose 9.1% YoY. In conclusion, reported net profit was Bt15,340mn decreasing 4.4% YoY whereas normalized net profit was Bt15,848mn, a decline of 1.2% YoY

and Olé Mini Sugar Free. However, the growth was partly offset by the decline in OEM-personal care. 1H’19 the Company’s gross margin improved to 35.0%, +330bps YoY. Gross profit increased by THB 614

changes over the past few years. Traditional media such as television, newspaper, magazine and radio has been in steady decline, while Out-of-Home (“OOH”) and online/digital media have become the go-to

customer has canceled the order suddenly. Given such circumstances and a decline in crude palm oil price, the Company has encountered a difficulty in managing the inventory turnover and recorded stock loss

continuous decline in global HRC prices and concerns about the growing spread of global epidemic of COVID 2019 towards the end of 1st quarter of 2020. This also resulted resulting in slowing orders from