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FINANCIAL REPORT

A 8% increase in overall income resulted in a surplus for the year of R93,420,00 despite the fact that we increased the awards paid out to learners by about R50,000,00.  Our investment capital continues to show a healthy increase – a trend we trust will continue.  Our sincere gratitude goes to Jan du Plessis of BoE for his continued guidance, support and invaluable advice on investment of available funds.

Office expenses have been kept to a minimum, but due to the constant need to keep abreast of technology there has been a slight increase.  Despite this we were able to increase the number of learners that received Awards during 2007.

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