2018 mainly from lower sales volume of animal feed. Farm Segment Revenue from farm segment in 2019 consisted of revenue from live broilers sales to GFN (our joint venture) and selling day- old- chicks to

net profit ratio (ROS) from 17.16% in the nine-month period of 2018 to 15.74% in the same period of 2019. The total expense to total revenue ratio increased from 13.55% in the nine-month period of 2018

31st March 2018, the Company and its subsidiaries had other income of Baht 31.38 million or increased by 19.6 percent from the same period previous year. Other income increased from the gain of old and

from relocating some product from the old production line to the new one; 4) higher excise tax as well as sugar tax following the Excise Act, B.E. 2560, effective since 16 September 2017; 5) higher R&D

Table 1 Core Financials of Consolidated Business 2 Table 2 Segment Results (New segment) 6 Table 3 Pipeline of Ongoing Projects 2019-2021 9 Table 4 Segment Results (Old segment) 13 Table 5 Regional

2019 MD&A 12 List of Tables Table 1 Core Financials of Consolidated Business 2 Table 2 Segment Results (New segment) 6 Table 3 Pipeline of Ongoing Projects 2019-2021 9 Table 4 Segment Results (Old

Table 1 Core Financials of Consolidated Business 2 Table 2 Segment Results (New segment) 5 Table 3 Pipeline of Ongoing Projects 2019-2021 11 Table 4 Segment Results (Old segment) 15 Table 5 Reconciliation

consisted of revenue from selling live broilers to GFN, our joint venture, and selling day-old-chicks to both international and domestic market, represented 36.60% of total sales, amounting THB 1,448.90

in revenue from shrimp feed. Farm Segment Revenue from farm segment consisted of revenue from selling live broilers to GFN, our joint venture, and selling day-old-chicks to both international and

decrease in revenue from fish feed and animal feed. Farm & DOC Segment Revenue from farm & DOC business consisted of revenue from selling live broilers to GFN, our joint venture, and selling day-old-chicks