volume. Gross Profit Margin Gross profit margin is equal to 32.30% in 2Q17, which slightly declined from the same period of last year which was 33.83%. The main cause stemmed from the duplicated costs of

prices. In 1H18, the Company had gross profit margin of 36.58% which increased from 29.63% in 1H17. Since in 1H17, there was the duplicated cost of labor between two factories at Laem Chabang and the new

. During 9M17, the Company’s gross profit margin is 29.94% which decreased from 32.99% in 9M16. The main cause stemmed from the duplicated cost of labor between the factory at Laem Chabang and the new

in sugar and garlic prices and an increase in the proportion of revenue from sales of Seasoning and Dipping Sauce products. Moreover, in 1H17, there was the duplicated cost of labor between two

media assets, which generated negative gross profit and are duplicated in the areas. This optimisation will enable MACO to gain greater efficiency on Domestic Advertising performance under management of