EARNINGS OF RAILWAYS

New Zealand Herald, Volume LXV, Issue 19891, 9 March 1928, Page 10

EARNINGS OF RAILWAYS

THE FEBRUARY RETURNS.

PROFITS AGAIN LOWER.

YEAR'S LOSS NOW £200,000.

[BY TELEGRAPH. —OWN CORRESPONDENT.] WELLINGTON, Thursday. Working profits earned by the New Zealand railways during the four weeks ended February 4 amounted to £168,837, which is £32,167 less than in the corresponding period of the previous year and £43,472 less than in the January period of 1926. For the 44 weeks of tho current financial year the working profits have been £954,384, as against £1,148,613 last year and £1,208,975 in 1925-26.

The gross receipts during the four weeks covered by the latest return were £693,789 and the expenses £524,952. The former shows a reduction by £26,609, while tho latter has increased by £5558.

Operating revenue from the North Island railways, £389,707, has declined £18,556, while tho working expenses, £279,698, are £2238 higher. The working profit is accordingly £20,794 lower.

Revenue from the South Island railways has fallen by £10,456 to £253,927 and as working expenses, £214,690, are only £IO7O lower the net revenue shows a decline of £9386. There is a reduction of £I9BB in the month's miscellaneous net revenue.

Following is a summary of tho net revenue for the 11 periods of the financial year

Totals . £G3G,834 £119,138 £198,412 £954,394 *Excess of working expenses.

The reduction of £194,229 in the net revenue for tho 44 weeks comprises £133,394 in the net operating, revenue of the North Island railways, equivalent to 17.3 per cent, of last year's return; £54,851 (31 .5 per cent.) in the operating revenue of the South Island railways and £5984 in miscellaneous net revenue.

Period North South Other to Island. Island. services. Total. April 30 . £8G,5S'2 £51,973 £21,703 £160,263 Mcy 28 73.777 34,822 17,144 130,743 Juno 25 27,521 2.241 14,314 44,079 J uly 23 t. 16,551 *20,701 16,700 12,550 Aug. *20 . 11,869 *20,770 15,321 6,420 Sept. 17 . 29,697 *7,949 12,648 34,396 Oct. 15 . 26,176 *13,738 22,264 34,702 Nov. 12 r. 51,308 *1,095 15,OSS 65,901 Dec. 10 . 81,725 14,328 16,893 113,446 Jan. 7 116,616 40,284 26,157 163,057 Feb. 4 •„ 110,009 39,237 19,591 168,837