Company’s cost of goods sold also increased in a lesser proportion. Towards the end of the year 2016, the Company also started producing and selling more high-end products, which have higher profit margin

Cost of Goods Sold 194.11 204.16 217.04 12.88 6.31 22.93 11.81 Gross Margin 18.39 47.04 54.53 7.49 15.92 36.14 196.47 Admin Expenses 10.24 26.47 26.92 0.45 1.70 16.68 162.99 Selling Expenses 2.99 11.70

increased 5.31% as a result of an increase in sales volume of sauces and condiments. Revenue from sale of goods 254.87 268.16 5.21% Cost of sale of goods (185.43) (172.39) -7.03% Gross profit 69.44 95.77

increase derived primarily from an increase in sales volume of Seasoning and Dipping Sauce products. Revenue from sale of goods 945.05 1,144.99 21.16% Cost of sale of goods (666.73) (710.93) 6.63% Gross

. Such decrease derived primarily from a decrease in sales volume of seasoning and dipping sauce products in Europe. Revenue from sale of goods 1,144.99 990.72 -13.47% Cost of sale of goods (710.93

increase derived primarily from an increase in sales volume of Seasoning and Dipping Sauce products. Revenue from sale of goods 878.19 945.05 7.61% Cost of sale of goods (606.11) (666.73) 10.00% Gross profit

increase in sales volume of sauces and condiments. Revenue from sale of goods 268.16 302.22 12.70% Cost of sale of goods (172.39) (180.81) 4.88% Gross profit 95.77 121.41 26.77% Selling expenses (16.52

3,335 -10.92% Average FX - THB/EUR 35.51 34.10 -3.97% - THB/USD 31.41 31.07 -1.08% 1Q19 1Q20 %YoY Revenue from sale of goods 302.22 272.46 -9.85% Cost of sale of goods (180.81) (180.53) -0.15% Gross

of goods resulted from clearance sales of old products and seasonal decorations products as well as selling a big lot of low margin project sales. As a result, inventories have decreased significantly

, which resulted in the gross profit margin decreasing to 30% from 35% the previous year. The higher cost of goods was directly due to the impact of an increase in global raw material prices, mainly copper