利润率;利润幅度;利润边际

Profit Margin利润率;利润幅度;利润边际

Profitmargin is a ratio of profitability calculated as net income divided by revenues，or net profits divided by sales．Itmeasures how much out of every dollar of sales a company actually keeps in earnings．

Profitmargin is very useful when comparing companies in similar industries．A higher profitmargin indicates a more profitable company that has better control over its costs compared to its competitors．Profitmargin is displayed as a percentage; a 20% profitmargin，for example，means the company has a net income of$ 0.20 for each dollar of sales．

Looking at the earnings of a company often doesn't tell the entire story．Increased earnings are good，but an increase does notmean that the profitmargin of a company is improving．For instance，if a company has costs that have increased at a greater rate than sales，it leads to a lower profitmargin．This is an indication that costs need to be under better control．

Imagine a company has a net income of$10 million from sales of $100 million，giving it a profitmargin of 10%($10 million/$100 million)．If in the next year net income rises to$15 million on sales of $200 million，the company's profitmargin would fall to 7.5%．So while the company increased its net income，ithas done sowith diminishing profitmargins．

Exerc ises

I．Incom plete Sentences

Directions: Aword or phrase ismissing in each of thesentencesbelow．Four answer choices are given below each sentence．Select the best answer to complete the sentence．

1．Instead of treating Africa's land and people as a resource to be exploited，entrepreneurs from the developed world are looking to work with the continent's80 million smallholder farmers to build_______ profitable partnerships．

(A) commonly　　(B) individually

(C) mutually　　(D) collectively

2．Themost visible link with China for both Tanzania and Kenya is in infrastructure development，_______it seems that Chinese construction companies are building all of the new roads and major buildings in the two countries．

(A) which　　(B) where　　(C) what　　(D) when

3．Trade between Africa and China has already spectacularly: last year，it jumped 45 percent to$107bn，a tenfold increase over 2000．

(A) risen　　(B) arisen　　(C) raised　　(D) aroused

4．_______many economists and anti-hunger advocates call for a Green Revolution in Africa，Mr．Buffett shuns the phrase because it refers to the agricultural boom that swept Asia in the 1960s and 1970s．

(A) If　　(B) Even if　　(C) Because　　(D) While

5．So Mr．Buffett is looking for ways to help African farmers increase their harvests without increasing their costs，_______his interest in developing plants that resist disease and drought．

(A) for　　(B) so　　(C) thus　　(D) with

6．Although relatively small_______ other African countries，Tanzania's trade with China is a much more important part of its overall economy．

(A) compared to　　(B) being compared to

(C) comparing to　　(D) compare to

7．_______their management and construction expertise，Chinese construction companies are also bringing Chinese equipment to East Africa．

(A) Except　　(B) In addition to

(C) With　　　(D) In spite of

8．China's pragmatism may produce better results．First，an emphasis on infrastructure means that，even if deals are corroded by corruption，_______the recipient country ends up with a road，port or hospital．

(A) at best　　(B) atmost　　(C) at least　　(D) atworst

9．The link between the US economy and African markets is critical，especially_______ global economic conditions and the potential Africa represents as a profitable new market．

(A) given　　(B) for　　(C) as　　(D) with

10．The United States has committed less to African markets than the emerging economies of Asia_______．

(A) do　　(B) does　　(C) has　　(D) have

II．Text Com pletion

Directions: Read the text that follow．A word or phrase ismissing in some of the sentences．Four choicesaregiven below each of the sentences．Select the best answer to complete the text．

Questions 11－15 refer to the follow ing report．

III．Translation

Directions: Use thewordsand phrases you have learned in thisunit to translate the following sentences into English．

1．南非一些国家GDP的增长率与亚洲两大经济强国不分上下。

2．凭借发展迅速的国内市场，非洲经济增长达到2%。

3．技术创新促进当地生产效率和经济增长。

4．前所未有的稳定的政治局面使非洲经济迅猛增长。

5．归国的技术工人缓解了长期的人才流失问题。

6．他放弃了终身制教授的职位，并拒绝了6位数字的高薪聘用。

7．由于最先进电子设备的研制失败，这家公司濒临破产。

8．当地企业家从非洲新兴市场中牟得利润。

9．这个工业园区是中国海外中心之一，类似于保税区。

10．经营困难和高成本加上普遍的腐败现象，使非洲成为最难经营的地区。

11．53个非洲国家中有36个腐败问题猖獗，怪不得非洲有腐败的坏名声。

12．企业实体的增长说明了非洲经济的复苏。

Supp lementary Reading