advance. As of 30 September, 2017, Net Interest-bearing Debt to Equity improved from 0.45 to 0.39 times as a result of lower debts and higher equity. Shareholders' Equity As of 30 September, 2017

1 2017 MD&A Advanced Info Service Plc. Executive Summary In 2017, mobile business improved from stronger 4G positioning amidst competitive environment. Competitive landscape remained challenging in

prior year as a result of the improved performances of Laguna Phuket hotels and Banyan Tree Bangkok. • Revenue from property development operations which comprise of property sales and the sale of holiday

6,112.42 million or 18.47% from the previous year. Gross profit for 2018 was Baht 2,320.28 million, a decrease by Baht 514.45 million or 18.15% from last year; however, gross profit margin improved from 7.89

year2017 which presented in the amount of Baht 1,591.27 million or 83.31 percent. Due to the leather business group has continuously improved the production process to reduce production costs and the energy

% which was in line with the improved financial cost management of the Company. - Income tax for Q1/2019 was in the amount of Baht 59.0 million which increased from Q1/2018 by Baht 5.8 million or 10.9

in the amount of Baht 415.11 million or 85.85 percent. Due to the leather business group has continuously improved the production process to reduce production costs and the energy business group has

, increasing from the same period of the previous year by Baht 53.75 million mainly due to increased construction revenue together with improved gross profit margin and increased share of profit from associated

expenses increased in the amount of Baht 17.7 million or 6.5%. And, the financial costs decreased in the amount of Baht 2.2 million or 7.8% which was in line with the improved financial cost management of

, golf cart fees and food & beverages. For the property management business, revenue also improved. (2) In this quarter, the Company recorded total costs and expenses of THB 1,243.46 million, increase by