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THE RAILWAYS

INCREASED REVENUE

TRAFFIC AT HIGH LEVEL

MR. SEMPLE'S REVIEW

Making his first Ministerial announcement on the subject of.railway finances, Mr. Semple stated today that the net revenue for four weeks from December 8 to January 4 amounted to £191,932. Dealing with the returns from the beginning of April, the Minister said that the net revenue for 40 weeks' operations was £ 1,030,728—0ver half a million pounds more than the net income earned during last year's equivalent period.

"The returns for the four-weekly period ended January 4, compared with the corresponding four weeks of last year, show a considerable increase in passenger and goods traffic, with the result that the net revenue for the 28 days amounted to £191,932—an increase of £41,214. The gross revenue for the period reached the high total of £878,326, being. £74,534 greater than the receipts of last year's relative period, while the expenditure of £686,----394 was only £33,320 more than was incurred during the tenth period of the past. financial year," said Mr. Semple.

"All operations of the Department for the full forty weeks of the current year have brought, in gross revenue of £8,194,605, while expenditure was £7,163,877, the increases over last year's figures for the forty weeks being £857,912 in respect of revenue, and £318,592 on the expenditure side. Thus it will be seen that the net railway revenue for the past forty weeks was £1,030,728, compared with £491,408 during the relative period of 1939-40 —a'pleasing increase of £539,320. "Interim returns since, January 4 indicate that all traffic is being maintained at a high level," concluded Mr. Semple, "and there is every prospect of the net earnings at March 31 approaching close to, if not exceeding, the record of £1,632,793 which marked the year 1925-26."

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/EP19410214.2.99

Bibliographic details

Evening Post, Volume CXXXI, Issue 38, 14 February 1941, Page 9

Word Count
292

THE RAILWAYS Evening Post, Volume CXXXI, Issue 38, 14 February 1941, Page 9

THE RAILWAYS Evening Post, Volume CXXXI, Issue 38, 14 February 1941, Page 9