RAILWAY EARNINGS

New Zealand Herald, Volume LXX, Issue 21555, 28 July 1933, Page 10

RAILWAY EARNINGS

GROUND GAINED IN JUNE j GROSS REVENUE HIGHER REDUCTION OF EXPENSES ["BY TF.T.F.GP.APH —OWN CORRESPONDENT] WELLINGTON*. Thursday The net earnings of the railways for the four weeks ended June 2t show a considerable improvement over those for the corresponding period last year. Revenue exceeded expenses by £2;?, 185. whereas in the corresponding pediod last year the profit was £10,744. The more favourable result was attributable to an increase in revenue to a greater extent than to curtailment of expenditure. The gross revenue was £418,660, which was £OB7O greater than last year, and expenses were reduced by £2502 to £305,475. The operating account for the North Island lines shoe's revenue amounting to £206,611, an increase of £6364, and expenses totalling £210.311, a reduction of £1456. There was a loss of £'.IG7O compared with £14,400 last year. From the South Island railways receipts were £104,629, an increase of £5515, and expenses were £158,457, or £570 more than last year. Ihe working profit was £6172, against £1227. The balance of miscellaneous revenue was £20,633, as against £24,007. The gross revenue was £47,390 and the expenditure £20,707. For the 12 weeks of the current financial year, net revenue was £212,047, as against £102,2-53 last year, £211,742 in 1031, £201,377 in 1930, £281,710 in 1929, and £279,675 in 1028. Compared with last year there has been a loss in revenue of £21,330 and expenses havo been reduced by £11,133.