In arriving at the proffs for the year, we deponed from our usual practice of bringing forward the un-Sppropriated profit. balance of the previous year into the Profit & Loss Account of this year. We believe, that iis method of set up will give tus more accurate presentation of our operating results, The provisions for bad debts and furniture depreciation were made as usual. We also, transferred $30,000 to the Investment Reserve and set up an Exchange Fluctuation Reserve of {$49,000 before arriving at o profit of S17.240.54 for the year.
Text read from the printed page and cleaned; old type leaves the occasional error.