2019. 1.10 Profitability For the period of three months ended 30th Sept 2019, the Company and its subsidiaries had gross profit margin of 11.63 percent, compared with gross profit margin of 12.15 percent

of 31% YoY. This represented gross profit margin of 27.6%, a decline from 31.6% in Q2/2016 as a result of higher cost per unit due to lower utilization as well as lower sales proportion in Branded

the gross profit were as follows: - Gross profit from sales was THB 7,632 million, decreased by 40.0% and gross profit margin was 20.7%, compared to 27.2% from same period of last year which was driven

profit margin 38.10% 42.97% 2. Advertising and Media Business Revenue from services 39.85 4.19 (35.66) (89.49%) Cost of services 23.90 18.47 (5.43) (22.72%) Gross profit of advertising and media business

Period (Day) 58 58 66 CASH CYCLE (Day) 9 14 18 PROFITABILITY RATIO Gross Profit Margin (%) 8.57 7.82 10.37 Net Profit Margin (%) 4.61 3.56 5.94 Return on Equity (%) 6.03 5.01 8.05 EFFICIENCY RATIO Return

represented gross profit margin of 29.7%, a decline from 34.4% in Q3/2016 as a result of higher cost per unit due to lower utilization. However, gross profit margin improved QoQ from 27.6% in Q2/2017 due to

respectively, and the gross profit margin is 19.11 per cent and 26.34 per cent respectively. Which the gross profit has decreased from new business that started operation in 2018, and the cost of sales on sales

high profit margin and also from effective marketing policy. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2018 Year 2017 Increase

Sales 1,205 1,500 -20% 3,892 4,384 -11% Cost of Goods Sold 956 1,054 -9% 2,976 3,087 -4% Gross Profit 249 446 -44% 917 1,297 -29% %Gross Profit Margin 20.7% 29.7% 23.6% 29.6% Selling Expenses 268 235 +14

profit margin 43.65% 42.10% 2. Advertising and Media Business Revenue from services 0.81 3.71 2.90 358.02% Cost of services 3.85 9.54 5.69 147.79% Gross profit of advertising and media business (3.04