PROFIT SHRINKS

New Zealand Herald, Volume LXXIV, Issue 22818, 27 August 1937, Page 12

PROFIT SHRINKS

WOKKINGr OF RAILWAYS JULY PERIOD RESULT RETROGRESSION OF £52,529 [BY TELEGRAPH —OWN' CORNKSPONDKNT] WELLINGTON. Thursday A retrogression of £52,529 is shown by net revenue for the four-weekly period ended July 24 compared with the result for the corresponding four weeks last year, according to the railway working account, an abstract of which was gazetted to-night. A working loss of £22,897 replaces a profit of £29,632. For the equivalent period in 1935 there was a loss of £663, and in 1934 a profit of £12,254. Tho gross revenue ' for tho four weeks was £582,251, which was £73,513 more than a year ago. Expenses were increased bj' £126,012 to £605,148. The operating account for the North Island shows a revenue of £312,659, an increase of £44,617, and expenses totalling £320,522, an increase of £61,645. There was a loss of £7863 compared with a profit of £9165. The receipts of the South Island railways were £198,288, an increase of £18,916, and expenses were £230,873, or £48,054 higher. There was a working loss of £32,585 compared with a loss of £3447. The balance of miscellaneous revenue was £17,551, compared with £23,914 in 1936. The revenue was £71,304 and the expenditure £53,753. For the period from April 1 to July 24 the net revenue was £171,500, compared with £339,700 last year, a decrease of £l6B/200. The gross revenue was £2,587,577, an increase of £354,024. The expenditure was £2/116,077, an increase of £522,224. Following is a summary of the net results for the corresponding periods of four weeks in the last three years:—

1937 1936 1935 Period to £ £ £ May 1 .. 133,725 324,370 117,091 May 20 .. 46,245 115,758 106,304 June 20 14,427 69,040 40,342 July 24 .. 22,897* 29,632 063* • Loss on workinsr.