4.2 percent in 2018. Against the backdrop of a global trade slowdown and US-China trade uncertainty, merchandise exports and imports for the year contracted by 2.7 and 4.7 percent from 2018

decreased to 0.85% when compared to previous year. It gained from the sales of low cost merchandise which was in higher portion. Total cost of sales and administrative expense were 618.64 million baht, it

. However, cost of goods sales to revenue ratio decreased 50.43 % from previous year to 50.17 %. It came from the sales of low-cost merchandise which was in higher portion. Total cost of sales and

major shareholder of SRD, direct holding 27% and indirect holding 13% shares. Transaction type LHMH will enter into an agreement to be an advisor to re-merchandise and manage renovated sales area in

50.41%. It came from the sales of low-cost merchandise which was in higher portion. Total cost of sales and administrative expense were 140.40 million baht, it decreased from the same period of previous

sales promotion of audio and visual merchandise to meet customer demand during the FIFA World Cup 2018. Likewise, the Company rolled out activities to promote the sale of electrical appliances and cooling

materials during Q3/2017, therefore, COGs per revenue still increase 2% to 82%, comparing to 80% of last year. o Regarding to fierce price competing, company faced with difficult situation in price adjustment

creativity bring us new businesses, products and services or production processes. Businesses operating amid increasingly fierce competition need innovation and creativity to increase incomes and profits, a

of the Company this quarter is still in line with plan, especially the Homepro business, which continues to increase its efficiency and improve merchandise management. This includes the conversion of

LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1/2018 2 2. ECONOMIC SITUATION Thai economy in Q1/2018 continually expanded, supported by every economic engine especially merchandise exports, which were