significantly. In addition, resulting the need to postpone a large-scale project auction and there are a few SI project in the market, thus those had a higher competition, resulting gross margin was declined
slightly decreased compared to Q1–2019 by34.8 MB or 2.7%. This is because in Q4–2019, the Company had delivered many large-scale projects which are continually operated from Q2–2019 and Q3–2019. In terms of
2016, since in 2017, the Company received large-scale projects that delayed from previous auctions such as internet for village project or internet for public domain, which is a high value project but
been mainly driven by improvements in tourism and industries related to the export sector. In contrast, provinces that rely on agriculture have not yet seen a clear pick-up, despite higher agricultural
–2019. The reason for the similar of decreased rate was due to the gross profit of the delivered projects in Q2–2020 higher than those of Q2–2019, but the selling and administrative expenses in Q2–2020
beginning of this year which allows the Company to benefit from economies of scale. • Gross Profit margin in Q4/2022 was 62.9%, increased from 59.6% in Q4/2021, and Gross Profit margin in 2022 was 63.1
was mainly due to (1) reversal of provisioning for decommissioning costs and (2) higher membership revenue. Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250
and (2) higher membership revenue. Cost of Sales and Services For the 9 months ending 30 September 2017 and 2018, the cost of sales and service increased from THB 1,368.5 Mn to THB 1,659.9 Mn