in quarter 2/2017 as the company was able to increase sales to some customers in spite of the decline in market demand from the lower biodiesel mandate being B5 and B7 in this quarter compared to the

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

% going forward and the ratio should gradually decline as a result of cost synergies in through restructuring, in particular in digital operations. In light of tangible improvement in gross profit, VGI

, private consumption and tourism. Both private and public investments remain largely at stable levels whilst consumer spending is constrained due to high household debt levels, decline in agricultural

exports which rose by 5.3% YoY as well as continued recovery in private consumption which expanding by 3.1% YoY. Nevertheless, Thailand's advertising industry reported a decline of 6.0% YoY to THB 101,445mn

behavior shifts OOH and online, so too will advertiser spending allocation. Hence, it is expected that advertising expenditures in the TV sector and traditional media to continue to decline and be surpassed

total revenue in Q4/ 2016. The slight decline in gross margin incurred due to the recognition of project with lower gross margin in this quarter. Lastly, net profit is equivalent to 21.94 million THB or

palm oil price and glycerine price in 1Q2109 was significantly decreased, attributed to a decline in by-product’s revenue. Furthermore, the company had impact from a decrease in crude palm oil price

-18 and continued investments in network, D&A rose 9.1% YoY. In conclusion, reported net profit was Bt15,340mn decreasing 4.4% YoY whereas normalized net profit was Bt15,848mn, a decline of 1.2% YoY

Margin (GPM) In 2Q19, gross profit from sales of real estate was THB 179.1mn, where GPM was 26.1%, declined from THB 215.8mn in 2Q18, where GPM was 27.9%. The decline in gross profit was because 22.3% of