A.B.C. POSITION.
With quite a substantial advance in gross profits, the report of the Aerated Bread Company for the past year shows that expenses mainly in the shape of higher rents, wages, &c., have so risen that net profits have fallen heavily, the figure being £16,242 against £66,899. It must be pointed out, however, that the accounts have been drawn up on somewhat different lines, and the " Provision for Income Tax " which formerly was shown against appropriation of net profit, is now charged before arriving at that figure. It must be remembered, too, that the company has been passing through a reorganization period in the matter of management, &c., and the directors express the view in the present report that the changes made and the economies being effected should produce satisfactory trading results in the future.
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