.............................................................................................................................................................. 15 3.3. Pathway 2: Relative Performance Improvement ................................................................................................................................................. 16

%.  Distribution costs for the 4th quarter 2018 represented 21.2% of revenue from sales, increased from the same period last year Baht 2.39 million or 2.7%. The change was due to increasing of rental expense. 1/2

reduce some of the rental expense. In addition, the company invested in machinery and equipment for a new branch in Jiangsu, China. While current assets decreased by Baht 47.77 million, which most of it

the income adjustment as mentioned above. For 1H18, gross margin was 31% higher than 28% gross margin of 1H17. This margin improvement was contributed by the increase of social security payment rate and

Baht 1.60 million. This was mainly caused by the lower revenues derived from fee and service income, interest on margin loans and return on financial instruments. However, KT ZMICO’s operating expense

, the tourism sector and a recovery in exports due to an improvement in the economies of our trading partners. As a result there has been an increase in the purchasing power of consumers in major cities

overall sales performance for the third quarter has improved from the previous quarter, especially in greater Bangkok and the big cities. This is in line with the improvement in the Thai economy, which has

of THB 28.6 million whereas the Company’s tax expense was THB 10.2 million. Therefore, the consolidated tax was net income for the amount of THB 18.46 million. Operation : Consolidated Profit & Loss

gain / (loss) from FX – Non-recurring income / (expense) KEY FINANCIAL HIGHLIGHT Sales and Service Income • Sales and service income increased 13.5% year- on-year from Baht 27,747 million in 2016 to Baht

improvement in product purchase planning of HomePro, Mega Home, and HomePro in Malaysia. 3. Cost of rental and service was Baht 430.07 million, an increase of Baht 64.55 million or up by 17.66% due to the