optimistic about the future so that their statement about excellent prospects
for the next year must be taken with more than a pinch of salt.
Half – Yearly Results
All companies listed on the stock exchange are required to publish
unaudited half yearly reports within two months of the end of the half year
(for companies closing the accounts in March, this means that the half-
yearly results up to September must be published in October or November).
These reports contain only a summarized P & L Account providing
information on sales, other income, raw material costs, wages, interest,
depreciation, provision for taxation and profits. Since the results are
unaudited estimates, the investors cannot place much reliance upon them.