RAILWAY YEAR

New Zealand Herald, Volume LXXIV, Issue 22722, 7 May 1937, Page 12

RAILWAY YEAR

PROFIT OF £903,858

DECREASE OF £147,619 GROSS REVENUE UP £786.335 BUDGET FORECAST EXCEEDED [by telkgraph—OWN corrkspoxdent] WELLINGTON, Thursday The accounts of the Railway Department covering operations during the year ended March 31 were published in to-day's Gazette. They showed a net revenue of £903,858, compared with £1,051,477 last year, and a Budget estimate of £900,000. Following is a comparison of the accounts for the last two years, showing the results of railway operation in the two islands and the aggregate transactions in respect of other services:—■ NORTH ISLAND 1 935-30 15)30-37 Increase £ £ -C Revenue .. 3.712,223 4,135,160 422,910 Expend. .. 3,222,821 3,091,292 <171,471 Net. rev. . . 480,402 410,877 *48,525 SOUTH ISLAND Revenue .. 2,531,290 2,708,435 237,139 Expend. . . 2,300,372 2,644,093 313,721 Net rev. , . 230,924 124,312 *100,582 OTHER SOURCES Revenue . . 790,797 887,017 120,250 Expend. .. 429,646 548,408 118,762 Net. rev. .. 331,151 338,039 7,488 WHOLE SYSTEM Revenue .. 7,004,310 7,790,051 780,33.> Expend. .. 5,952,839 6,880,793 933,954 1,051,477 903,858 *147,019 •Decrease. The results secured by the department in the past 12 years, in which the new method of accountancy has been in force, have been as follows: — Net Revenue Expend. Revenue £ £ £ 1925-26 .. 8,101,221. 6,408,428 1,032,793 1920-27 . 7,989,433 6,490,880 1,498,553 ifl*>7-*>B . 8,034,970 0,685,123 1,349.847 1928-29 . 8,249,038 6,849,383 1,399,655 19°9-30 8,28.8,116 7,858,859 929,25, 1930-31 . 7.571,536 6,882,809 688,727 1931-32 . 6,508,948 5,670,955 837,993 1932-33 . 6,034,403 5,183,859 850,514 1933-34 . 6,332,711 5,247,153 1,085,558 1931-35 . 6,627,928 5,540,437 1,03 <,491 1935-36 , 7.004:316 5,952,839 1,0511,477 1936-37 . 7,790,651 6,886,793 903, bub For the four-weekly period ended March 31, the net earnings were £158,870, as against £184,144 last year, a decrease of £25,274. The gross earnings for the period were £828,205, which is £88,020 more than in the equivalent period last year. Expenses amounted to £669,335, an increase of £113,294. . Operating revenue in the 2sortn Island was £447,991, an increase of £54,345. Expenses amounted to £357.942, an increase of £58,071. Net earnings decreased by being £90,049. against £93,775. in the South Island receipts were £285,781, and expenses £249.385, increases of £18,371 and £42,928 respectively, compared with the figures last vear. Net earnings decreased by £24,557 to £36,396. The revenue from miscellaneous services was £94,433, and the expenditure £62,008, giving a net revenue of £32,425, an increase of £3009 on the result last year.