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
ANALYSIS FOR PERIOD ENDED 30 SEPTEMBER 2017 3.1. Analysis of Q3 2017 and YTD 2017 results The key drivers of the Q3 2017 performance on the positive side were higher volumes which led to an 10.3% increase in
and regulatory control variables. We also find the year after volatility in the stock market increases, gambling markets performance is positive and significant, revealing these gambling investors
of the year. However, the gross margin in the middle of 2019 will receive a positive effect from seaweed price and exchange rate; thereby the costs of main raw materials will be reducing by more than
importance for Golden Lime: the limestone quarry operated by TMC has already been one of the raw material suppliers in the past, but Golden Lime Public Company Limited 3 MANAGEMENT DISCUSSION AND ANALYSIS FOR
support from the new Shareholder, we are positive to be more competitive in term of cost resulting the positive bottom line is achievable. Refer to the HRC price in Q3/17, we have seen the improvement of
Company’s working capital is indirectly subsidized via trade creditor in form of loan and via business partners in form of raw material supported for production (under Collateral Management Agreement – CMA
up 56% Driven by positive internal and external outcomes LTM 2Q18 Core EPS THB 3.86 – up 61% YoY post 9.8% dilution from warrants exercise Net Operating D/E 0.45x, Core ROCE 15.8% on LTM 2Q18
of an increased in raw material cost is greater than an increased in HRC market price. The company expects the lower of production and sales due to the slowdown of Tolling during Q4/18. The company