EARNINGS OF RAILWAYS

Southland Times, Issue 21822, 27 September 1932, Page 5

EARNINGS OF RAILWAYS

IMPROVEMENT IN AUGUST. WORKING PROFIT OF £lB,OOO. The improvement in net railway revenue recently manifested was continued in the four-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 the 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 was £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 weeks 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 10,744 32,522 *4,027 July 23 4,467 *28,233 *7,602 August 20 18,179 *31,547 *20,596 *Loss on operation.