of revenue and cost of sales comparing to Quarter 1 in 2018 decreased as the company managed to reduce the cost of raw material to be cheaper that the same period last year. Selling and Administrative

% Total cost of goods sold and expenses 364.18 373.85 -9.67 -2.59% 3 The overview of costs and expenses of the 1st quarter 2019, the Company could manage the proportion of cost of goods sold, cost of

cost of sales comparing to Quarter 2 in 2019 decreased as the company managed to reduce the cost of raw material to be cheaper that the same period last year. Selling and Administrative Expenses For the

the company managed to reduce the cost of raw material to be cheaper that the same period last year. Selling and Administrative Expenses For the six-month period ended 30 June 2019, the Company’s

management control of IRSL in April 2019, IRSL operational and financial performance has been improving. IVL has appointed a new management team, including the CEO and CFO, in IRSL to manage and operate the

café sales and higher income from foreign tourists. In addition, the Company has shown the ability to manage costs efficiently. N E T P R O F I T a n d N E T P R O F I T M A R G I N : Executive S U M M A

café which has a higher gross profit margin than sales from other distribution channels. The Company has also displayed the ability to manage cost efficiently. G R O S S P R O F I T a n d G R O S S P R O

from interest of trust receipts from the purchase of raw materials. The Company therefore earned net profit in Q3/2019 and year 2018 amounting THB 2.4 MB and THB 1 1 .9 MB respectively. Net profit of the

57.7 Million Baht or 10.3% compared to the previous year as the Company was able to manage raw material and labor cost more efficiently, resulting in higher gross margin. 3 Cost of Food & Beverage Costs

waste controls and effectively manage the raw materials. Please be informed accordingly, Sincerely yours, Mr. Weerachart Lohsiri Managing director