Message from Chairman

Dear Shareholders,

On behalf of the Board of Directors of the Company, it is a great honor and privilege for me to have the opportunity to extend a very warm welcome to all of you to the Annual General Meeting of your Company for the fourth consecutive year since the Company has been listed on the Stock Exchange of Thailand in 2013. I trust by now, you would have received and reviewed the Annual Report for the year 2016.

In my brief address today, I will touch upon the performance of the Company for the year 2016, dividend recommendation, and the outlook for the coming year.

Despite the Thai economy registered a growth rate of 3.2% in 2016, the Company continued to face tough challenges due largely to the persistent weak purchasing power of consumers and the new normal environment of slow economic growth. Against this backdrop, the Company continued to focus on productivity improvement and cost savings while, at the same time, strengthened the Company's competitiveness by offering new menu and mix menu items to best match the needs of customers, executing effective advertising and promotional campaigns, using technology as a tool to enhance the efficiency of customer service, and adhering to restaurant operating excellence.



Mr. Rit Thirakomen
Chairman and Chief Executive Officer

As a testament to the Company's restaurant operating excellence, I am very delighted to report that the Company was awarded "The Most Powerful Brand of Thailand 2016" by Chulalongkorn Business School for the third time in a row. All of employees are very proud of this award. As a result of these measures and initiatives, the Company's financial performance in 2016 was broadly satisfactory, with total revenue rising 3.9% to Baht 15,498 million. Net income also recorded a higher increase rate of 13.1% to Baht 2,100 million in 2016, while earnings per share was Baht 2.30 in 2016 as compared with Baht 2.04 in 2015.

In light of the financial result for the year 2016 mentioned above and confidence in the future prospect of the Company, the Board of Directors of the Company resolved to recommend to pay an annual dividend of Baht 2.10 per share (2015: Baht 1.90). As an interim dividend of Baht 1.00 per share was paid to shareholders, the final dividend of Baht 1.10 per share, subject to shareholder approval at the 2017 Annual General Meeting, will be paid on Tuesday, 23 May 2017.

" The Company's financial performance in 2016 was broadly satisfactory, with total revenue rising 3.9% to Baht 15,498 million. Net income also recorded a higher increase rate of 13.1% to Baht 2,100 million in 2016, while earnings per share was Baht 2.30 in 2016 as compared with Baht 2.04 in 2015 "


As we enter the year of the rooster 2017, although the National Economic and Social Development Board forecast that the Thai economy will continue to grow at 3-4% in 2017 (2016: 3.2%, 2015: 2.9%) mainly driven by gradual improvements in exports, private consumption, gradual recovery in private investment, continued robust public investment, and the healthy growth trend of tourism, we remain cautious about the future outlook of the year 2017 because we expect that the tough market conditions that we experienced throughout the year 2016, and particularly so in the fourth quarter are likely to continue in the first half of 2017. Against this background, we expect a slow start with growth improving as the year progresses.

Before I conclude, on behalf of the Board of Directors of the Company, I would like to thank our customers who have reposed great trust in us and our service and product offerings. I also take this opportunity to thank all our employees for their tremendous effort, passion and commitment in delivering results in what continues to be a very tough environment. Finally, I would like to wholeheartedly thank our shareholders for their continued support and encouragement.