EARNINGS OF RAILWAYS

New Zealand Herald, Volume LXIX, Issue 21295, 23 September 1932, Page 10

EARNINGS OF RAILWAYS

m " ''i : - - " ■ ' IMPROVEMENT IN AUGUST WORKING PROFIT OF £IB,OOO HEAVY 1931 LOSS OVERTAKEN GROUND GAINED THIS YEAR [BY TELEGRAPH —OWN CORRESPONDENT]! , ' ' - WELLINGTON, Thursday The improvement in net railway revenue recently manifested was continued in the fpur-weekly period ended August 20, as the abstract of the working account published in the Gazette reveals. A working profit of £18,179 replaces the loss of £31,547 returned for the corresponding period last year. This is the first time the August period has shown an operating profit for several years. The gross revenue was £409,550, which was £9621 less than a year ago, and expenses were reduced by £59,347 to £391,371 The operating account for tho North Island shows a revenue of £216,606, a. decline of £6116, and expenses totalling £210,746, a reduction of £35,223. There was a profit of £5860, compared with a loss of £23,247 last year. The receipts of the South Island railways were £143,746, a decline of £2523, and expenses were £154,660, a reduction of £22,363. There was a working loss of £10,914, Compared with £30,754 last year. The balance of miscellaneous revenue was £23,233, as against £22,454 in 1932. For the period from April 1 to August 20 net revenue was £214,899, as against £.151,973 last year. The gross revenue was £2,226,635,. a decline of £186,460. The expenditure yas £2,011,736, as against £2,261,122, a reduction of £62,926. Following is a summary of the net results for corresponding periods of four jreeks in the last three years:— Period to 1932 1931 1930 April 30 .. £102,677 £94,746 £122.270 May 28 .. 78,832 84,474 83.134 June 25 a . 10,744 32.522 *4,027 July 23 7. 4,467 *28,223 *7.602 August 20 . 18.179 *31,547 *20,596 *Loss en operation.