The Board is pleased to announce that following consultation, the Government of Bangladesh has declared the tea industry to be exempt from legislation which requires companies to make a payment on retirement to employees, on the basis that the tea industry already makes such payments under industry specific legislation. The consequence of this is that a provision for post employment benefits which amounted to £8.2 million (Tk 921.7 million) at 31 October 2018 can now be released. This will increase profit before tax for 2018 by this amount.
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