VIROL, LIMITED
I•
AT the forty-first annual general meeting held on July znd the chairman, Lord Luke, said:
Ladies and Gentlemen:
As stated in the report, there was a further improvement in the ompany's trade ; in fact the sales have compelled us to introduce a theme of rationing for all orders, both for the public and the welfare entres.
Turning to the accounts you will have noticed that the gross trading rofit amounts to E168,045, as compared with £146,441 for the revious year, and after deducting all operating expenses, but before roviding for Excess Profits Tax, the profit comes out at £37,356.
We have shown in the appropriation account that of this profit of 37,356 we have had to set aside £22,000 for Excess Profits Tax, epresenting 6o per cent (including income tax So per cent.) of the ear's profits, and leaving us a figure insufficient to cover the Prefer- nce and the usual Ordinary dividends. This was due to the fact that cur E.P.T. standard year is based on one of our worst profit periods or many years. The directors, however, have decided to recommend e payment of the usual dividend of to per cent, on the Ordinary hares, drawing on the carry-forward to meet the deficiency.
The report and accounts were unanimously adopted.
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