market was strong as the sugar season was prolonged and infrastructure projects supported our key markets of steel and construction. The Thai economy continues to outperform expectations and while we

planting season has shifted to this quarter and the raining season has started so the water situation was getting better even though a severe drought is still causing extensive damage in some areas. Moreover

and Malaysia in the second quarter. In addition, the third quarter is typically considered as the low season for retail businesses as it coincides with the rainy season. The Company’s gross margin

primarily in the steel and construction segments. Combined with the ultra-weak sugar season that ended early in April, the burnt sales volumes were under significant pressure resulting an 8% lower sales

in the course of replacing one of its distributors, which affected sales in the second half of the year, which normally is the high season period, although there remained such markets with continued

same quarter of the previous year (increased by 3.6 percent from Q3/2019), mainly due to the increased proportion of new season seaweed which accounted for decreasing costs, and the growing utilization

levels of air pollution and the long hot season. However, there was a slowdown in sales during the second half of 2019 as a result of the negative economic factors discussed above. Nonetheless , the

% 1. Total Revenue Total revenue for the year 2019 was Baht 1,001.58 million, decreased by 5.28% YOY as a result of economy slowdown, and low spending season causing consumers slow down their spending

”) increased 16% yoy. This increase was partly driven by the outstanding 23% income growth in the 3rd quarter of 2017 (“3Q17”). Not only high season of healthcare business, the increase of social security

likely to improve from the utilization of seaweed of 2019 season, the cost of which were 10 percent lower than that of the previous year after the seaweed stock of the previous year was used up, and also