13.59%, a decrease of 0.04% from gross profit of 13.63% in the fourth quarter of 2017. 2/2 Sales and Administration cost The company recorded sales and administration cost of 191.52 million Baht for the

sales ratio for the Group were 68.31% in 2018 compared to 71.96% in 2017. The decrease in the cost of sales ratio is due to the effectiveness of controlling and managing the budget as well as choosing the

Baht 987.27 million, an increase of Baht 56.39 million or 6.06%, which was a decrease of revenue from printing business at Baht 17.04 million or 3.83% and an increase of revenue from power plant at Baht

and services in amount of Baht 987.27 million, an increase of Baht 56.39 million or 6.06%, which was a decrease of revenue from printing business at Baht 17.04 million or 3.83% and an increase of

increased from 35.71% as compared to the same quarter of 2018. The main cause stemmed from an increase in proportion of revenue from sales of sauces and condiments, a decrease in sugar and garlic prices and

growth of the business since 2018 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on exchange rate, resulting in a decrease in net profit ratio (ROS) from 20.41

% decrease from the same period last year. This was the result from the cessation of the subsidiary’s business operations. 2. Other Income 22.85 Million Baht, increase 17.10 million baht from the same period

submit herewith explanation and analysis of the Management as follows. 1. Income, gross profit, net profit Unit : Million Baht 1. Income 2019 2018 2017 Increase (decrease) 2019-2018 1.1 Construction

of the project to increase production efficiency and results from the calculation of the long-term employment benefits of 400 days scheme at 4.78 million Baht, as resulted decrease in gross profit

to 1.56 times, respectively, with a decrease in inventory holding period from the same period of the last year were 115 days and 116 days. Cash flow received from operating activities decreased from