development expenses. For the year 2018, SAAM Group presented gross profit of THB 50.94 million, representing gross profit margin of 71.22%, a THB 0.41 million or 0.57% decrease from the previous year (2017

channel has expanded significantly, as well as effective cost management has resulted in maintaining profit margin at a good level. (2) Analysis of Operating Results and Profitability (2.1) Revenues from

be Baht 446.70 million or an increase of 33.26 percent, due to expansion of distribution channels and effective cost management having resulted in maintaining profit margin at a good level. (2

profit margin stood at 27.1%. Compared to the previous quarter, the company has increased the net profit by 3.9%, which is considered the company's highest quarterly net profit statistics continuously

with business reorganization in order to enhance corporate efficiency and growth contributing to favourable operating results by achieving gross profit margin and EBITDA since Q1-2020. UWC Group’s

transportation costs, the gross profit margin as a percentage of sales has increased from 26.49% in the previous year to 27.10% due to change in product sales mix of general merchandise and the enhancement of

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

% ] Cost of Sales 2,424.7 2,457.1 2,628.9 Gross margin, % 18.98% 21.09% 27.84% SG & A 415.5 403.1 471.4 Operating Profit * 213.3 248.2 -14.1% 527.1 -59.5% Net Profit-Consol. F/S 159.0 268.6 -40.8% 558.0

statement for the third quarter in 2018 reported a net profit of 2.6 million baht more than the third quarter in 2017 at 98.0 percent and the Company’s net profit margin equal to 0.09 percent. Thus, the

$99.4 +6.2% $113.0 -10.2% ] Cost of Sales 2,450.3 2,424.7 2,457.1 2,692.4 Gross margin, % 20.66% 18.98% 21.09% 27.04% SG & A 421.8 415.5 403.1 463.7 Operating Profit 217.0* 213.3** 248.2* + 1.7% 517.3