efficiently supervise and examine the operation of such branch office in order to facilitate business undertaking and management of the organization of securities company to be more flexible and capable of

considered low especially the government project as the public is still waiting for the national election on 24 March 19. As such, the Company do not foresee 2. Business Outlook on Q1/2019 3 G J Steel Public

this quarter is considered low especially the government project as the public is still waiting for the national election on 24 March 19. As such, the Company do not foresee 2. Business Outlook on Q1

Company holds 100% shares entered into a joint venture agreement with Dean & DeLuca Japan Co., Ltd. to establish DDCJ with the shareholding of 50% in DDCJ to operate the business of food service and retail

6.99% 28.84 5.18% Specific Business Tax 218.42 3.83% 307.19 3.85% (88.77) -28.90% Finance Cost 176.52 3.10% 193.08 2.42% (16.56) -8.54% Exchange Losses (Derivatives) 2.71 0.05% 124.13 1.56% (121.42

Management Discussion and Analysis for Interim Business Operations 2019 % 2018 % Inc./(Dec.) % Construction Income 150.24 92.91 21.63 87.82 128.61 594.59 Service Income 9.70 6.00 0.41 1.66 9.29

from appreciation of Baht against other currencies, causing a drop on revenue from overseas sales. However, the Company and its subsidiary have changed business strategy and enhance marketing strategy

million tons of crude steel in March 2019, an increase of 2. Business Outlook on Q2/2019 3. Industry Overview and Outlook 4 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) Q1/2019 2.3

2Q2018 mainly from higher revenue of chicken processing business which increased by THB 382.40 million or 21.46% up comparing to 2Q2018 mainly from higher revenue from domestic sales of chicken parts. The

year. In addition, the company invested in warehouse to support business expansion and to partially reduce rental expense. In Jiangsu China, the company purchased machine and equipment to support