MINT REPORTS 64% NET PROFIT INCREASE IN 2Q18

          Minor International ("MINT") announced net profit of Baht 1,205 million in 2Q18, a 64% increase from Baht 737 million in 2Q17. The growth was led by the strong performance of Minor Hotels' core business, driven by strong RevPar growth in key markets and increased contribution from its real estate business, as well as a positive contribution from Minor Hotels' recent investment in NH Hotel Group. In 2Q18, MINT also recorded a positive fair value adjustment on its investment in Benihana of Baht 121 million. Excluding this one-time item, MINT's core net profit showed a strong 47% increase from the same period last year. For the first half of 2018, MINT reported net profit of Baht 2,925 million, an increase of 10% from Baht 2,661 million in 1H17.
          Minor Hotels' business includes ownership and management of hotels and serviced apartments, real estate development and other complementary businesses. In 2Q18, Minor Hotels reported net profit of Baht 705 million, an increase of 145% from 2Q17 net profit of Baht 287 million. Buoyed by strong tourist flows, Minor Hotels' attractive asset portfolio and successful marketing initiatives, revenue per available room (RevPar) of owned hotel portfolio in 2Q18 increased by 4% y-y, despite Thai Baht continuing to strengthen against many currencies that Minor Hotels operates in, especially US dollar, Brazilian real and African currencies, when compared to 2Q17. Excluding the foreign exchange impact, RevPar of MINT's owned hotel portfolio increased by 7%, principally as a result of strong RevPar growth of overseas hotels of 11%. RevPar of owned hotels in Thailand grew by 2% y-y in 2Q18, driven primarily by hotels in Bangkok. Portugal hotels continued to benefit from the higher rates commanded by newly-renovated properties, while hotels in Brazil demonstrated strong RevPar growth of 22% for the quarter in local currency terms. Despite the current oversupply issues, hotels in the Maldives reported RevPar growth of 9% in US dollar terms, primarily on the back of strong occupancies, a testament to Minor Hotels' successful targeted marketing efforts. During the quarter, Minor Hotels' real estate business contributed significantly to its net profit. The recent investment in NH Hotel Group also contributed positively to the results in the form of dividend income of Baht 215 million, net of related expenses. For the remainder of 2018, Minor Hotels expects to deliver strong performance, driven by solid performance of hotels in key markets and the real estate business, together with an increasing contribution from NH Hotel Group. Thailand is expected to remain a prime tourism destination and an area of strength. Maldives operating trends are expected to improve due to growth in tourist arrivals. Portugal hotels will for the first time fully benefit from the completion of the major renovation program. Brazil hotels are expected to continue to perform well, particularly in local currency terms. 
          Minor Food operates a portfolio of casual dining restaurants in four primary hubs: Thailand, China, Australia and Singapore. Minor Food reported net profit of Baht 470 million in 2Q18, a 9% increase from net profit of Baht 431 million in 2Q17, mainly due to a positive fair value adjustment of Baht 121 million resulting from the investment in Benihana. While same-store-sales growth across key hubs remained under pressure during the quarter, month-on-month operating trends in Thailand have shown signs of improvement, with Swensen's and Dairy Queen same-store-sales growth turning positive in May and June, primarily due to menu innovations. The launches of the Bingsu Sundae range at Swensen's and Thai Tea soft serve at Dairy Queen were well-received and delivered positive results. Similarly, China has seen an improving month-on-month trend during the quarter in both same-store-sales and total-system-sales. Looking to the second half of 2018, private consumption trends in Thailand are expected to continue to gradually improve, based on the positive indication of rising farm income. Meanwhile, Minor Food will continue its marketing efforts, new product launches and outlet expansion plans. In China, Minor Food is on track with rapidly scaling the Riverside brand in Beijing and Shanghai. The Coffee Club brand is being rolled out successfully outside of Australia, particularly in Thailand and the Middle East, and is poised to expand into China and Vietnam pursuant to recently-signed franchise and joint venture agreements, respectively. Finally, the 75% interest in the non-US operations of Benihana acquired during the quarter provides an immediate positive contribution which will continue going forward. 
          Minor Lifestyle is the exclusive Thailand distributor of fashion apparel and household products under various international brands and a contract manufacturer of household goods for FMCG companies. Minor Lifestyle reported net profit of Baht 30 million in 2Q18, a 67% increase from Baht 18 million in 2Q17. The increased profit resulted from improved performance from Minor Lifestyle's fashion brands, particularly Brooks Brothers, Bossini and Charles & Keith. In 2Q18, Minor Lifestyle introduced Bodum, the coffee press maker and kitchenware brand from Denmark, to Thailand. Going forward, Minor Lifestyle will continue to selectively build its fashion and home and kitchenware portfolio of brands in order to deliver sustainable growth in the long term.

          About Minor International: 
          Minor International (MINT) is a global company focused on three core businesses: restaurants, hospitality and lifestyle brands distribution. MINT is one of Asia's largest restaurant companies with over 2,100 outlets operating system-wide in 27 countries under The Pizza Company, Swensen's, Sizzler, Dairy Queen, Burger King, Thai Express, The Coffee Club, BreadTalk (Thailand), Riverside and Benihana brands. MINT is also a hotel owner, operator and investor with a portfolio of 161 hotels and serviced suites under the Anantara, AVANI, Oaks, Tivoli, Elewana, Marriott, Four Seasons, St. Regis, Radisson Blu, The Beaumont and Minor International brands in 26 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America. In addition, MINT recently reinforced its strategic expansion into Europe and South America with a 29.8% stake in NH Hotel Group, a leading operator of city-center hotels listed on the Madrid Stock Exchange. NH Hotel Group provides MINT with a portfolio of 382 hotels and 59,350 rooms under the NH Collection, NH Hotel, nhow and Hesperia brands in 30 markets across Europe, the Americas and Africa, with strategic coverage of top city destinations such as Amsterdam, Barcelona, Berlin, Bogota, Brussels, Buenos Aires, Duesseldorf, Frankfurt, London, Madrid, Mexico City, Milan, Munich, New York, Rome and Vienna. MINT is one of Thailand's largest distributors of lifestyle brands and contract manufacturers. Its brands include Gap, Banana Republic, Brooks Brothers, Esprit, Bossini, Etam, OVS, Radley, Anello, Charles & Keith, Pedro, Zwilling J.A. Henckels, Joseph Joseph, Bodum and Minor Smart Kids. For more information, please visit www.minorinternational.com.