in the market. As a result, the Company’s cost of raw materials cannot adjust to the market price continuously decline in time. Even though, the government has imposed the urgent measures to absorb

THB 1,482 million, decreased by THB 4 million (or -0.3% YoY), mainly due to a decline in OEM-personal care (for 4Q’19, others segment recorded at THB 431 million, an increase of 1.2% YoY). However, the

slowdown, 4/11 which result in a decline in ad spending on print media. However, the Company has adjusted strategic and business model to cope with such effects. The Company views that Bangna assets are no

. Excluding the consolidation of our Outdoor and Digital Services business, our revenue improved organically by 19.8% against a backdrop of double digit decline in overall advertising spending. Despite the

in quarter 2/2017 as the company was able to increase sales to some customers in spite of the decline in market demand from the lower biodiesel mandate being B5 and B7 in this quarter compared to the

of 31% YoY. This represented gross profit margin of 27.6%, a decline from 31.6% in Q2/2016 as a result of higher cost per unit due to lower utilization as well as lower sales proportion in Branded

% going forward and the ratio should gradually decline as a result of cost synergies in through restructuring, in particular in digital operations. In light of tangible improvement in gross profit, VGI

, private consumption and tourism. Both private and public investments remain largely at stable levels whilst consumer spending is constrained due to high household debt levels, decline in agricultural

represented gross profit margin of 29.7%, a decline from 34.4% in Q3/2016 as a result of higher cost per unit due to lower utilization. However, gross profit margin improved QoQ from 27.6% in Q2/2017 due to

exports which rose by 5.3% YoY as well as continued recovery in private consumption which expanding by 3.1% YoY. Nevertheless, Thailand's advertising industry reported a decline of 6.0% YoY to THB 101,445mn