% decrease compared to the same period of 2019. This was mainly due to a decrease in management fees and interest income by Baht 6 million and Baht 5 million, respectively. II Share of profit from investments

direct export chicken products and domestic sales of chicken parts. The consolidated gross profit in 1Q2018 was THB 519.39 million in 1Q2018, decreased by THB 109.99 million or 17.48% down from 1Q2017 from

growth rate of total expenses at 20.3%(y-o-y), then the Net profit attributable to Equity holders of the Company in Q2/2019 and of the first six months of 2019 were of Bt176.1 million and Bt524.0 million

business is generally lower margin than MACO’s core business, net profit margin slightly decreased to 14.4% from 22.9% in 3Q 2017. Nevertheless, we believe that MACO will benefit from economies of scale

services 472.04 100.00 391.84 100.00 80.20 20.47 Cost of services 443.49 93.95 390.38 99.63 53.11 13.60 Gross profit (loss) 28.55 6.05 1.45 0.37 27.09 1,863.50 Other revenues 12.81 2.71 10.91 2.78 1.91 17.48

1,107.0 46.4% Gross Profit/2 981.7 1,884.0 902.3 91.9% 2,784.6 2,957.9 173.3 6.2% Net Profit 303.0 1,051.9 748.9 247.1% 1,082.9 1,458.5 375.6 34.7% Normalized Total Revenue/3 2,338.8 2,911.8* 573.1 24.5

) (874.7) (920.4) 5.2% 15.6% (1,585.0) (1,795.1) 13.3% Cost of construction under a concession arrangement (398.1) - - - N.A. (

business income 250.06 360.05 Operating expenses (262.61) (335.86) Corporate income tax – expenses (1.86) (4.05) Net profit (loss) (14.41) 20.14 The performance of Absolute Yoga Co., Ltd., the associated

Project), with revenue from sales. - Real estate development business expected to occurred in that quarter. In addition, the company realizes profit from buying these two businesses since the purchase price

caused, revenue from sales of export increased about 31% and revenue from sales of domestic decreased about 22%. Analysis of Profit of company and its subsidiaries The Q2/2017, the company and its