The all-in'? cost for the year works out at the fairly reasonable figure of 9.80d. per Ib. This is slightly above the figure for last year but it must not be forgotten that we are now working ona restricted output which naturally means higher costs. The year's crop was some 18,000 Ib. below last year's figure but this reduction has been more than compensated for by the better prices realized since the introduction of compulsory restriction. As the company has only had the benefit of these better prices for a portion of its financial year, the result of the year's working cannot be regarded as unsatisfactory.
The nett profit for the year, after making the usual allowances for depreciation, amounts to Tls. 9,670.05 and after deducting the debit balance of Tls. 1,- 213.47 brought forward from last year's accounts, there remains a balance of Tls, 8,459.18 standing to the credit of profit and loss account which the Directors recommend carrying forward to next year's accounts.
Text read from the printed page and cleaned; old type leaves the occasional error.