|
STEP
8 |
|
A Director's Report |
|
When Harper & Grant's Profit and
Loss Account and the Balance Sheet were approved, they were sent to
all shareholders with the Directors' Report on the year's business.
The shareholders were then invited to attend the A.G.M. or
Annual General Meeting.
In a public company the Directors' Report is often printed in the
newspapers, as it can be excellent publicity if the firm is doing
well. It is also useful if the company wishes to raise further capital
with a new issue of shares.
Here is part of the Directors' Report:: |
|
|
The process of expansion has continued throughout the
past year. Market research in connection with new products was
carried out, budgetary control
and work study developed and a programme of management training
introduced. |
|
|
Work on the new factory extension was begun, and a
training programme instituted for the extra personnel who will be
required. The new extension will greatly increase the volume of our
production. The machinery we have installed is of the very latest
design. We are confident that we shall increase the quality of our
products, as well as the quantity. It is hoped that, following the
formal opening, the new extension will be in full operation. |
| |
We are
pursuing an active export policy, and we hope that future plans in this
direction will prove profitable. To further future expansion, your
directors are proposing, for passing at the A.G.M., the necessary
resolution to increase our authorised capital and to become a public
company. We
look forward to a year of
vigorous and successful trading. |
| |
GLOSSARY:
to carry out: to put in effect, to accomplish, to fulfill
(llevar a cabo, realizar);
to look forward to: to expect or hope for
(esperar ansiosamente). |
|
