cover image: The Looksan Tea Company Limited  Report by the Directors  31st December  1949

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The Looksan Tea Company Limited Report by the Directors 31st December 1949

1950

To your Directors who have been in close touch with the many problems and anxieties that have arisen during the year it is a matter of relief and gratification that the Company can record a profit on the year's working of just over t 13 000 compared with a profit of less than.U00 in 1948 and that it is possible once again to recommend the payment of a dividend on the Ordinary shares. [...] The decision of the Government of Pakistan not to follow the example of the United Kingdom and of India in the devaluation of the currency has brought a host of difficulties. [...] 17 491 CASH at Bankers on Dividend Account 3 59 363 In view of the uncertainty of the exchange position since the devaluation of sterling in September 1949 and the fact that it is only permissible to remit from Pakistan to the United Kingdom for eert:1111 specific purposes at the now current rate of exchange of approximately 2/2d. [...] The title deeds to the Company's estates in Pakistan are not in this country and consequently and explanations which to the best of our knowledge and belief were necessary for the purpose'of appears from our examination of those books and proper returns adequate for the purpose of our a We have examined the balance sheet and profit and loss account which are in agreement with the b In our opinio [...] us the said accounts give the information required by the Companies Act 1948 in the manner y's affairs as at 31st December 1949 and in the case of the profit and loss account of the H. WAISSEN WILSON & CO.
commerce industry
Pages
9
Published in
United Kingdom
SARF Document ID
sarf.147376
Segment Pages Author Actions
Frontmatter
i-ii unknown view
The Looksan Tea Company Limited Report by the Directors 31st December 1949
i-vi unknown view
Backmatter
i-i unknown view

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