gross profit margin represented 41.99%, relatively steady compared to previous period. 96.03% 95.25% 3.97% 4.75% 1Q17 1Q18 Sales Other income Revenue Component 63.22% 62.13% 36.78% 37.87% 1Q17 1Q18 House

Microsoft Word - MD&A_E Q3_2562 ต้นฉบับ Management Discussion and Analysis: MD&A 1. Company Situation The company’s core business revenue for Q3/2019 has been going steady, no major increase or

includes revenues from five trading subsidiaries in Thailand and overseas. Two of the subsidiaries in Thailand had steady and increasing performance in the past year, but the subsidiaries overseas had

diversified into recurring business which could provide steady income in the long-term. During the past two years, the Company invested in the projects that generated revenue from rent and service which were (1

represented 41.47% relatively steady compared to previous period effect from a promotion that mention above. However, the Company has concern about the maintaining gross profit margin, so the marketing

wide-ranging impacts to all industries as well as our businesses. Fortunately, Central Retail has multi-category, multi-format, and multi-market businesses as well as is flexible and fast to execute

the Infrastructure Fund of Japan in September 2018. This resulted in the steady amount of overall electricity generated. There were also a profit from the sales of the aforementioned assets before tax

changes over the past few years. Traditional media such as television, newspaper, magazine and radio has been in steady decline, while Out-of-Home (“OOH”) and online/digital media have become the go-to

gaining wide acceptance and recognition at home and abroad, as reflected in the numerous awards we received in this quarter. C Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1

through effective capital management and creation of a culture of risk awareness organization-wide, to enable us to cope with possible economic fluctuations in a timely manner. B Being aligned with our