, which decreased Baht 4.88 million or 14.24% from the same period of 2017. Such decrease stemmed from the decrease in staff costs and reclassification of fixed costs at the new factory that incurred as a

a customer, and the reclassification of fixed costs at the new factory which incurred as a result of lower-than-normal production capacity. Sales volume (Ton) - Euro 1,377 2,146 55.85% - United States

fixed costs, while sales that increased from business growth will gradually be recognized as revenue per the accounting standard. 2. Total expenses of Baht 41.50 million, a decrease by Baht 217.18 million

an increase in the reclassification of fixed costs at the new factory which incurred as a result of lower-than-normal production capacity, expenses related to discontinuation of drink products, staff

22.68% of the same period of previous year). The profit margin increased from the same period of previous year mainly because the significant growth in revenue. Due to large portion of fixed costs, the

-020-1 FAX. 66-38 480-080 Million Baht , Thai Takaya Co., Ltd. 0.14 Million Baht and Sahachol Foods Supplies Co., Ltd. 0.53 Million Baht. 3. Impairment loss on fixed assets 15.00 Million Baht due to

by Baht 2.90 million or 9.87% from the same period of 2018. Such increase stemmed from an increase in staff costs and reclassification of fixed costs at the new factory incurred as a result of lower

find the following attachment. Please kindly be informed accordingly. Yours faithfully, Mr. Geza Emil Perlaki Managing Director For period ended 31 March 2019 MANAGEMENT DISCUSSION AND ANALYSIS Golden

247.64 215.77 432.35 216.58 100.38 184.71 74.59 Fixed Assets 496.77 487.78 760.48 272.70 55.91 263.71 53.08 Total Assets 744.41 703.55 1,192.83 489.28 69.54 448.42 60.24 Current Liabilities 221.47 192.45

Assets 247.64 215.77 432.35 216.58 100.38 184.71 74.59 Fixed Assets 496.77 487.78 760.48 272.70 55.91 263.71 53.08 Total Assets 744.41 703.55 1,192.83 489.28 69.54 448.42 60.24 Current Liabilities 221.47