POST OFFICE FINANCE

Press, Volume XC, Issue 27444, 2 September 1954, Page 12

POST OFFICE FINANCE

SATISFACTORY YEAR REPORTED PROFIT ON OPERATIONS (From Our Parliamentary Reporter) WELLINGTON, September 1. “The Post Office is out of the red,” says the annual report of the Post and Telegraph Department, which was tabled in the House of Representatives today. * In spite of increased operating costs, trading operations for 1953-54 showed a profit. Revenue increased by £2,286,475 to £15,991,908. Operating costs rose to £15,578,311, compared with £14,766,186 in the previous year. “This year, in keeping with the general trend over the last decade, the Post Office has once more exceeded previous levels of business in every branch,” says the report. “Articles posted are up to a new record figure of 359,000,000, and tolls to 31,000,000; telephones have increased by 23.531 to a total of 334,580; and 7,000,000 teleprams wpro «>nt ”

The Post Office Savings Bank reached new record figures. For the first time, deposits' in one year totalled more than £100,000,000, and the tote! at credit exceeded £200,000,000. The Post Office was 1014 short in permanent and temporary staff on March 31. The total permanent and temporary staff was 18,917, compared with 19,181 in the previous year. The total staff, including country postmasters and telephonists, was 20.266. The total at the end of the 1952-53 year was 20,558.

Commenting on this the PostmasterGeneral (Mr w. J. Broadfoot) says the staff shortage has made it most difficult to keep pace with the many demands for Post Office services.