gross receipts less the cost of goods or production but before the deduction of such other costs as rent or salaries.
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British Dictionary definitions for gross profit
accounting the difference between total revenue from sales and the total cost of purchases or materials, with an adjustment for stock
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012