of 2018. The main reasons were:  Revenues from circulation increased 7.34% with circulation revenues of comic books and children books increasing 0.92%. In addition, pocket books and consignment

follows: 1. Revenues from sales and services for the nine-month period of 2019 decreased 30.18% compared to the same period of 2018. The main reasons were: • Revenues from circulation increased 4.17% with

effect in 2017 that represented a reduction of about 2% on average and a fire incident on June 18 that caused a backlog of order valued more than USD 2 million by the quarter end. However, consignment

that took effect in 2017 that represented a reduction of about 2% on average. However, consignment sales were almost fully realized in the current period. The Q-o-Q decrease in revenue was primarily due

addition, some shipments were not recognized as sales revenue in the second quarter in accordance with relevant incoterms, and partly due to consignment stock: consignment fill-up totaled Bt813 million

unrealized consignment sales (Table 3, unrealized revenue amounted to USD3 million, or Bt109 million in 2Q18). Cost of Sales and Gross Profit The profit margin in 2Q18 widened Q-o-Q to 27.84% but narrowed Y-o

Gross Profit Margin was affected by two major factors: 1) A change in foreign currency exchange rates Table 1: Foreign currency exchange rates and sales in foreign currency 2) A higher cost of main raw

11% Y-o-Y (Table 4), due partly to the WLTP issue, which resulted in lower orders from automotive suppliers, as most suppliers shifted their priority to stock management. In 1Q19, consignment stock

million). In addition, the decrease in Sales was due to product mix (Table 5) and an adverse effect of unrealized consignment sales (Table 3, unrealized revenue amounted to Bt115 million in 2018). Cost of

change in foreign currency rates Table 1: Foreign currency exchange rates and sales in foreign currency 2) a higher cost of main raw materials The effect from copper usage was about 2.7% on product sales