Railway Revenue Shows Another Fall

Sun (Auckland), Volume I, Issue 299, 9 March 1928, Page 16

Railway Revenue Shows Another Fall

RETURNS FOR FEBRUARY YEAR’S DECREASE NOW £200,000 (.From Our Resident Reporter.') WELLINGTON, To-day. Another fall is recorded in the working profits of the New Zealand Railways for the four weeks ended February 4 last. This puts the working profits for the 44 weeks of the current financial year down nearly £200,000, compared with last year. For the four weeks ended February 4 working profits amounted to £168,837 which is £32,167 less than in the corresponding period of the previous year, and £43,472 less than in the January period of 1926. For the current financial year the working profits have been £954,384, as against £1,148,613 last year and £1,208,975 in 1925-26. The gross receipts during the four weeks covered by the latest return were £693,789 and the expenses 524,952. The former shows a reduction of £26,609, while the latter has increased by £5,558. Operating revenue from the North Island railways, £389,707, has declined £18,556, while the working expenses,. £279,698, are £2,238 higher. The working profit is accordingly £20,794 lower. Revenue from the South Island railways has fallen by £10,456 to £253,927. and as working expenses, £214,690, are only £1,070 lower, the net revenue shows a decline of £9,386. There is a reduction of £1,988 in the month’s miscellaneous net revenue. Following is a summary of the net revenue for the 11 periods of the financial year:—

The reduction of £194,229 in the net revenue for the 44 weeks comprises £133,394 in the net operating revenue of the North Island railways, equivalent to 17.3 per cent, of last year’s return; £54,851 (31.5 per cent.) in the operating revenue of the South Island railways and £5,984 in the miscellaneous net revenue.

Period North South Other to Island. Island. services. Total. £ £ £ £ April 30 . 86,582 51,978 21,703 160,263 May 28 . 78,777 34,822 17,144 130,743 June 25 . 27,521 2,244 14,314 44,079 July 23 . 16,554 *20,704 16,700 12,550 Aug-. 20 . 11,860 *20,770 15,321 6,430 Sept. 17 . 20,697 *7,949 12,648 34,396 Oct. 15 . 26,176 *13,738 22,264 34,702 Nov. 12 . 51,308 *1,095 15,688 65,901 Dec. 10 . 81,725 14,828 16,893 113,446 Jan. 7 . 116,616 40,284 26,157 183,057 Feb. 4 . 110,009 39,237 19,591 168,837 Totals . £636,834 £119,138 £198,412 £954,394 ‘Excess of working expenses.