UK Accounting Glossary
Sales minus cost of sales before deducting administration and selling expenses (see also gross margin).
Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. Gross profit appears on a company’s income statement and is calculated by subtracting the cost of goods sold (COGS) from revenue (sales).
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This glossary post was last updated: 23rd December 2018.