network in the region contributes to the sales and transfer of completed projects. Projects under development are on track. We are excited to make a change in international education through the Verso

sales volumes. The sharp decline in the Finished Goods prices has also led to a decline in Raw material prices and the Company suffered devaluation loss on Finished Goods stock, Raw Material in stock and

10.06% as compared to 2016. However, higher proportion of cost of sales to net revenues from sales increased from 48.69% to 49.08% as a result of increasing prices of goods and raw materials including

million, because the Company had order to be used for the production of raw material to customers increased. - Investment in associated company decreased for 29.57 million Baht, because share of profit of

increased 31% are results of volume impact in domestic market and also selling price adjustment to trade, regarding to raw material cost increase. ⚫ Total expenses increase 30% are mainly reflected by

increase was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth during 2017 and (3) the increased sales of raw material to franchisees. Revenue from franchise fees

of THB 375.9 Mn or 21.3% and was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth and (3) the increased sales of raw material to franchisees. Franchise fees

instruction, procedure and technical production, production flow, machine standardization, raw material standardization, diagnostic, testing and process control including the procedure and patent and other

Million due to efficiency improvement in raw material and production cost management. - QSR business recorded its GPM of Baht 79.0 Million that 2.6% increased from 2018 or by Baht 2.0 Million. - Swine farm

%) (Reversal of) loss on confirmed purchase orders for undelivered raw material 21 0 100% Other income 97 45 116% Total income 13,268 30,180 (56%) Expenses Cost of sale - Cost of goods sold 13,386 29,342 54