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

and Olé Mini Sugar Free. However, the growth was partly offset by the decline in OEM-personal care. 1H’19 the Company’s gross margin improved to 35.0%, +330bps YoY. Gross profit increased by THB 614

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

the TV sector and traditional media have been in decline and is expected to be surpassed by OOH media (Outdoor, Transit and In- store media) and digital/online spending in the near future. Master Ad

customer has canceled the order suddenly. Given such circumstances and a decline in crude palm oil price, the Company has encountered a difficulty in managing the inventory turnover and recorded stock loss

rate in 2009 following the Hamburger crisis. The Committee assessed that the Thai economy would expand at a lower rate than previously assessed and lower than its potential due to a decline in exports

operation for several consecutive years. Causes are from change in media consumption behavior from print media to online media and overall economic slowdown, which result in a decline in ad spending on print

forecast. Exports of goods would decline in line with trading partner economies and potential impacts of regional supply chain disruptions.*  However, the Company sees that the lower interest rate also