Operating result In 2010, net profit was Baht 20,547 million, increased 20.5% year on year (y-o-y) from Baht 17,055 million in 2009. The key growth drivers were the increase in mobile data usage, higher sales of smartphones, and economic recovery. Mild competition and operational efficiency also kept the operating cost at low level. Service revenues excluding IC grew 7.9% y-o-y to Baht 87,852 million in 2010 from Baht 81,442 million in 2009 due to strong growth in non-voices service, improved domestic voice usage, and international revenue as economy recovered. Non-voice revenue driven by mobile data usage grew 30.5% to Baht 15,040 million while voice revenue improved 3.5% to Baht 66,278 million and international roaming revenue were Baht 2,703 million, increased 15.4% from 2009. Higher sales of smartphones also pushed sales revenue to Baht 8,954 million, an increase of 34.9% y-o-y. Cost of Service and Sales excluding IC in 2010 was Baht 25,625 million, decreased 4.8% y-o-y from Baht 26,929 million in 2009 from lower amount of network amortization, well-controlled maintenance cost, and lower cost of refill cards due to the successful electronic prepaid top-up. Selling and administrative expenses declined 2.3% y-o-y to Baht 9,812 million in 2010 from Baht 10,047 million in 2009 due to the decrease in marketing expenses and improvement of bad debt provision. Marketing spending declined 13.8% y-o-y as a result of mild competition. Bad debt provision in 2010 was 2.5% of postpaid revenues, declined from 3.7% in 2009 due to the quality enhancement of distribution channel which help acquiring the quality of postpaid subscribers. ______________________________________________________________________