Gross profit Definition | Legal Glossary | LexisNexis
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GLOSSARY

Gross profit definition

What does Gross profit mean?

The difference between (i) turnover and (ii) the cost of making a product or providing a service, before taking into account overheads, salaries and wages, and interest payments. The logical step after calculating gross profit is to go on to calculate the gross profit margin, which is the gross profit as a percentage of turnover.

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