RAILWAY EARNINGS

New Zealand Herald, Volume LXIX, Issue 21247, 29 July 1932, Page 10

RAILWAY EARNINGS

GROUND LOST IN JUNE HEAVY FALL IN REVENUE EXPENSES SHOW REDUCTION [BY TELEGRAPIT —OWN CORRESPONDENT ] WELLINGTON, Thursday Tho net earnings of the railways for the four weeks ended June 25 compare unfavourably with those for the corresponding period last year. Revenue exceeded expenses by £10,744, whereas in the corresponding period last year the profit was £32,522. The gross revenue was £408,781, which was £84,511 less than a year ago, and expenses wero reduced by £52,733 to £398,037. Operating account for tho North Island linos shows revenuo amounting to £200,277, a decline of £47,852, and expenses totalling £214,767, a reduction of £33,163. Thera was a loss of £14,890 against a nominal profit last year of £199. From the South Island railways receipts were £159,114, a decline of £34,985, and expenses were £157,887, or £25,497 less than last year. The working profit was £1227, against £10,714. The balance of miscellaneous revenue was £24,007, as against £21,608. For the 12 weeks of tho current financial year net revenue was £192,253, as against £211,742 last year, £201,377 in 1930, £281,710 in 1929, £279,675 in 1928, and £335,085 in 1927 Compared with last year, there has been a loss in revenue of £147,836, and expenses havo been reduced by £128,346 Owing to the necessary adjustment of the railway accounting system to the term of the financial year, the three periods this year are to Juno 25, while tho corresponding periods in 1931 were to Juno 20.