due to THB 531 million positive change in foreign exchange gain (loss) and higher operating profits. Past Performance Analysis Revenue Analysis Group Sales increased 5% in 2017 at THB 21,551 million

period of last year. The increase was mainly driven by positive same store sales growth (SSSG). In addition, the gross profit margin grew consistently, due to more efficient management of the product mix

of unsecured debenture with issued amount totaling of THB 500mn was due on 29 July 2018. The Company had repaid in full amount. Management outlook and future projects The management maintain positive

subsidiaries in domestic and international showed increase performance, along with the newly incorporated subsidiaries in USA, China, Indonesia, and Vietnam started to show positive performance, resulting in

coefficient of 𝑅𝐹𝐸𝐸𝑖𝑡 (𝛽4= 0.354, P < 0.05) is statistically significant with a positive sign. This indicates that clients generally pay higher audit fees when they change their audit firms. Results : A

positive same-store-sales growth during 2017 and (3) the increased sales of raw material to franchisees. Franchise fees income increased from THB 15.1 Mn in 2016 to THB 56.5 Mn in 2017, an increase of THB

increase was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth during 2017 and (3) the increased sales of raw material to franchisees. Revenue from franchise fees

) positive same-store-sales growth during 2017, (2) opening new branches and (3) increased sales of raw material to franchisees. Franchise fees income increased from THB 15.1 Mn in 2016 to THB 56.5 Mn in 2017

of THB 375.9 Mn or 21.3% and was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth and (3) the increased sales of raw material to franchisees. Franchise fees

investment fund. However, the 6-month consolidated net profit attributable to owners of the Company has still been in a positive position totaling of Baht 90.7 million, or equivalent to a 12% growth over the