The Fourth Five Years: 1965-1969 Mr. Yardstick’s Operational Review

Welcome ladies & gentlemen to the Benchmarkco Ltd presentation to discuss the company’s 1965-1969 5-year results. Starting with the customary disclaimers, time travelers should be aware that in today’s presentation we will be making certain backward looking statements that discuss past events and performance. These statements are subject to risk and uncertainties that could cause results of real companies to deviate from the computations of our virtual operation.

With me today is our CFO Mr Fair Squareview. During today’s meeting I will firstly review our operating performance over the last five years as well as industry trends before I pass on the presentation to Mr Squareview, who shall take you through our financial figures.

Last time we met I expressed a wish that on this occasion I would have better news to report to you. We concur with those of you who may be thinking “it could hardly get any worse and that this would be no achievement.” Combing both wet and dry divisions, the last five years were indeed better, and the result for the entire group can be described simply as breakeven and commensurate with our cost of capital. Tankers were slightly below breakeven while dry cargo was slightly above, but it was encouraging to see that the former division was no longer bleeding and moved into positive territory. But it was a game of two halves.

Please turn to Figures 22 & 23.

This is only an excerpt of The Fourth Five Years: 1965-1969 Mr. Yardstick’s Operational Review

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