NationStates Jolt Archive

ITC Reports Annual Profits Exceeding UST

15-05-2004, 19:35
NENYA, SATURDAY - The Imperial Trade Conglomerate today delivered its late annual accounts report to the Economic Court, reporting record after-tax profits of US$14 trillion. That puts total public spending at 50% of the GNP, a new high in the Empire. Total income was near a staggering US$50 trillion; costs were relatively low for this year, with cash injections and profit margins for the ITC group from last year helping to keep annual costs low this year. Overall group efficiency - the rating that the ITC Commission for Economic Efficiency, based at Turath University, accords to the spending of the group - is still lower than hoped for, however.

"We're still a new setup," explained ITC spokesman Elura Rihad, "and until all the kinks of the microeconomy are removed, the overall efficiency of the group suffers."

The ITC was set up in the early days of the Empire to weave the economy into one unit, providing strength and resiliency to the socio-capitalist market. Control of the macroeconomy by the Economic Court and the ITC helps promote the correct level of economic growth, with metered investment and fixed prices furthering the cause. A whole host of checks and counter-balances aids the system, with economic assets taxed according to performance by both the ITC and the government. ITC coffers swell, but those funds are then available for the ailing companies, promoting overall growth and stability.

A total share dividend of US$1.1billion will be paid to shareholders; the Empress stands to gain some US$560million from her 51% stake in the Conglomerate.

~ Excerpted from the ITC News web/Meshsite, which sourced The Nenyan Economist broadsheet