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Key words

Results

Report results

Profit / loss

Pre-tax profit

Pre-tax loss

Profit and loss account

Income statement

A company’s financial performance for a period is its results, which it reports in the form of a profit and loss account, indicating unsurprisingly whether it has made a profit or a loss.

The equivalent document in the USA is the income statement. A pre-tax profit or loss is one calculated before tax is taken into account.

5.2. Word - building.

a) Recall the meaning of the suffixes.

существительное:

процесс, результат

Verb + -ing

-ment

to advertise (рекламировать) - advertising (рекламное дело)

to pay (платить) – payment (платеж)

b) Translate the derivatives.

development, measurement, selling, buying, setting, employment, manufacturing, spending, agreement, settlement, payment.

5.3. Translate the sentences paying attention to the words or phrases in bold type.If it is necessary consult a dictionary.

  1. Brokers, unlike wholesalers and retailers, do not buy goods for themselves.

  2. Instead they act as agents by arranging deals for others.

  3. In recent years sales promotion activity has increased to such an extent that it now accounts for more expenditure than media advertising.

  4. Our customers agreed to accept the price and we informed the retailers accordingly.

  5. A great deal of profitable business is done at commercial centres.

  6. At present, this drink is sold only in Europe, however, the sports drink market is the most rapidly growing segment of the word beverage market.

5.4. Read text 5a. Pay attention to the difference between the middlemen of trade. Text 5a The Middlemen Of Trade

The middlemen of trade are involved in the channels of distribution already described in units 3 and 4. They are called middlemen because they lie between extractive and/or manufacturing industry and the public. They are involved in trade because they deal in the buying and selling of goods.

Types of middlemen

Wholesalers buy from manufacturers and sell to retailers hoping to make a profit, e.g. by buying at one price ($2) and selling at a higher price ($2.40).

Retailers buy from manufacturers and sell to the public hoping to make a profit.

Brokers, unlike wholesalers and retailers, do not buy goods for themselves. Instead they act as agents by arranging deals for others, e. g. a manufacturer of chocolate might ask a broker to buy cocoa for him on a commodity exchange. Brokers never possess the goods in which they deal. They are used because they are specialists in the goods in which they deal; brokers earn commission.

In home trade the wholesaler is an example of a merchant and is sometimes called a wholesale merchant. In foreign trade there are export and import merchants who buy and sell goods just like a wholesaler. Merchants hope to make a profit.