rate decelerated in accordance with the global economic growth which was affected by the trade war between the United States and China, together with the appreciation of the Thai Baht as one of the

operations Overview of the retail industry in 2019, the growth rate was not very high at approximately 2.6 percent resulting from consumer buying power was slow due to economic conditions. In which the Company

and Q1- 2016, which was Baht 199.5 million and Baht 16.5 million, respectively, due to the first quarter of 2017. The overall economic expansion has improved direction, with the main driving force from

which the Bank of Thailand projected to record growth of 3.5 percent in 2017, and 3.7 percent in 2018 (as of June 2017). However, the economic growth in the period ahead still challenge with uncertainties

year as a result of economic slowdown which impact most of projects to postpone their investment during the first half year. However, the Company expected that the revenue will increase during the second

(Glanzstoff) 2 Kt pa July 2017 a. Expand to meet growing de- mand of tire-cords Qingdao - Shangdong  Top 10 economic developed cities in China  Presence of major ti re producers  9 mi l l ion people

accelerated spending in the first half of fiscal year. The situation is expected to benefit the company from economic recovery and private investment. In terms of total operating expenses, it usually varies

baht or 121.70% y-o-y. The reason for such changes was due to the slight economic growth continuously to the second quarter of this year. Rainfalls during the period were sufficient for cultivation

% y-o-y due to economic slowdown in advertising industry. Revenue from sales food and beverage Sales of food and beverage was 269.9 MB can be classified as follows:- A&W Restaurant: revenue from sales

economic benefits and to be in line with Group policy. The Company's gross profit was THB 230.0 million, increased by THB 3.4 million, or 1.5% yoy. This year gross profit margin at 23.1% of revenues from