SHRUNKEN PROFITS
LOW RAILWAY RETURNS. HEAVY LOSS IN DECEMBER. WELLINGTON, Feb. 8. The lowest amount of working profit for the December period, shown by the Railway Department's working account for manv years, appears in the return for the four weeks ended January 4, published in this evening's Gazette. Revenue exceeded expenses by only £145.361, which is less by £57.000 thin the corresponding margin a year ago. The December return normally records the heaviest revenue of the year. The amount on this occasion was £693.8-52, which is less by £22.327 than last year. The working expenses have increased bv £34.675 to £548,482. Operating revenue in the North Island was £371.322. a reduction of £24,655, and expenses were £289.388. an increase of £17,718. Working profits consequently shrank bv £42,373 to £81,934.
Working profits of the South _lsland railways also declined by £23.704 to £27,859. This shrinkage was due to the reduction of receipts by £lO.Bll to £243.514 and the expansion of expenses by £12,893 to £215.655. Net revenue from miscellaneous services was £35,571. which shows an improvement of £9069. Following is a summary of the net revenue for the ten periods of the current financial year: North South Other Island. Island. Services. Totals.
Totals 216,069 *5.422 219,906 430,573 •Excess of working - expenses. The working profits for the 40 weeks of the current tinancial year are less by £332,200 than those for the corresponding period ol last year. Those from the North Island railways have fallen by £276,460 and those trom the South Island railways by £88,175. Net revenue from other services has increased by £32,-*29. The seriousness of the position may be illustrated by tho fact that the amount of working profits earned in about 30 weeks in 1926 has this year been produced only after 40 weeks’ operations.
£ £ £ £ April 27 45.254 41.985 20.126 107,365 Way 25 55,632 49.667 16,447 121,746 June 22 19,312 11,888 21.359 52.599 July 20 563 *31.283 22.141 *8,579 Aug. 17 3.212 *25.736 18.376 *4.143 Sept. 14 16.274 *16,034 20.158 20.393 Oct. 12 *15.941 *27,866 22,670 *21,136 Nov. 9 *16,432 *29.294 22.203 *23.513 Dec. 7 26.231 *6.611 20,811 40.431 Jan. 4 81.934 27,859 35.571 145.364
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Bibliographic details
Manawatu Standard, Volume L, Issue 64, 11 February 1930, Page 2
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357SHRUNKEN PROFITS Manawatu Standard, Volume L, Issue 64, 11 February 1930, Page 2
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