an external provider of warehouse and logistics management services, whereas the Company did not incur such expense in the corresponding period of 2018. It was also ascribed to a total increase of

26.3% 581 812 231 39.8% Selling expenses (ICUK) - 171 171 n/m - 330 330 n/m Selling expenses 319 574 255 79.9% 581 1,142 561 96.6% General and administrative expense 116 168 52 44.8% 227 338 111 48.9

561 96.6% General and administrative expense 116 168 52 44.8% 227 338 111 48.9% Total SG&A expenses 435 742 307 70.6% 808 1,480 672 83.2% Our selling expenses amounted to THB 574 million, up by THB 255

Limited Management’s Discussion and Analysis (MD&A) for year 2018 any improving of the consumption of steel in this quarter. In addition, the Company has move the annual shut down early to February due to

/2019 2 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 (Revised) any improving of the consumption of steel in this quarter. In addition, the Company has move the annual

UE, the Company acquired a 50% stake in both the BTS-Sansiri JV and Keystone JV. Finance costs increased by 254.5% YoY or THB 149mn to THB 208mn primarily from interest expense of loans taken to

% Gross Profit 174.10 38.69% 154.40 39.05% (19.70) (11.32%) Other Revenue 9.63 2.14% 17.14 4.33% 7.51 77.99% Selling Expense (50.80) (11.29%) (54.80) (13.86%) 4.00 7.87% Administrative Expense (42.75) (9.50

-13.36 -14.29 8.20 -61.38 -9.13 -63.89 -18.52 -30.16 11.64 -38.59 Income tax (expense) revenue -0.30 -1.52 -1.56 1.22 -80.26 1.26 -80.77 -1.82 -1.10 -0.72 65.45 Net profit (loss) -5.46 -14.88 -15.85 9.42

405.44 40.55% 302.88 39.22% (102.56) -25.30% Other Revenue 24.06 2.41% 27.99 3.62% 3.93 16.33% Selling Expense (103.76) -10.38% (110.85) -14.35% 7.09 6.83% Administrative Expense (84.64) -8.47% (100.14

million to THB 333.40 million or decreased THB 30.19 million or 8.30% due to the revenue of films’ rights distribution decreased. Cost of Production and Service / Expense of Sale and Management 1. Cost of