COMPANY MEETING
BURMA ESTATES, LIMITED THE seventh annual ordinary general meeting of Burma Estates, Limited, was held at 4 Lloyd's Avenue, London, E.C., on Monday, July 29111, 5940.
Mr. Bertram F. White, the cnairman, said: Gentlemen, the direc- tors' report and accounts for the year ended March 3551 last have been in your bands for the past week, and you will doubtless wish me to take them as read.
The improved results are due to the larger crop and the better prices obtained.
Although these factors were not operative until the second half of the year, the profit has advanced to a figure in excess of the amount of our standard profit, as we have been obliged to reserve a sum of £2,500 in respect of Excess Profits Tax. In the profit and loss account you will notice that £2,000 has been allowed for depreciation of buildings and machinery, which is k500 more than was allowed in the previous year, and is, we consider, quite adequate, in view of the fact that all buildings and plant are well upkept.
For the current year we have sold forward no tons (i.e., 537,600 lb.) at an average price of told. per pound, c.ii. This represents about one-third of our export allowance on the current scale, and the pro- ceeds roughly cover our estate expenditure for the whole of the year.
The report was unanimously adopted.
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