NOVA PUBLICATIONS: DIRECTORS' REPORT 1955
Detailed accounts by the auditors were included with the report. These have been omitted. These pages scanned/OCRed from Les Flood's copies, as supplied by Mark Plummer.
DERWENT HOUSE, 2 ARUNDEL STREET,
The Directors submit their Report and Statement of Accounts for the year to 31st December, 1955.
The Directors are pleased to announce that as from Spring, 1955, there has been a considerable improvement in our general trading, sales steadily rising throughout the year under review and considerable quantities of early issues being sold to Australia at full wholesale rates.
One of the main reasons for improved sales was the fact that competition had dwindled considerably, most of the poor quality contemporaries ceasing to be published. Throughout the end of 1954 and the beginning of 1955 there had been strong resistance by most of the wholesalers to taking "science fiction" of any kind because of the large number of pocketbooks and magazines available. As this mass of material gradually disappeared from the market wholesalers began to steadily increase their orders for our publications.
During the year the four pocket book titles sold slowly but steadily and although no great quantity was cleared their sales prospects improved.
The loss for the period, as shown by the annexed accounts, was £932.17.4., to which has to be added the deficit on Profit and Loss Account brought forward from the previous Account of £3,728.18.0., making together a deficit to be carried forward of £4,661.15.4.
The Auditors, Messrs Myring & Bradbury, having intimated their willingness to continue in office, a resolution fixing their remuneration will be proposed.
By Order of the Board,