WORKING PROFITS DOWN
DECREASE IN RAILWAY REVENUE INCOME FOR THE YEAR (From Our Resident Reporter) WELLINGTON, Thursday. The working profits on the railways show a decrease this year. In 1928-29 the net earnings for 32 weeks to November 10 were £446.120. while in the remaining 20 weeks revenue exceeded expenses by £953.535. This year the “lean" period produced a net revenue of only £244,725, so that with a heavier interest liability to meet, the department entered the period of heavy traffic with a handicap of £201,392. The return for the four weeks ended December 7 is now available. It show’s a working profit of £40,481. which is £73,806 less than the corresponding return of £114,287 last year. The gross revenue from all sources for the mouth was £625,521. an increase of £1.655, while the expenses were £555,340, an increase of £75.461. After showing a loss on operation for two periods, the North Island has now’ earned a net revenue of £26,251, as against £54.723 in the corresponding period last year. The receipts wer9 £344,570. which is lower than last year by £9.651. while expenses amounted to £315,259, an increase of £ 45.791. In the November-Deeember period last year, the South Island railways earned £13.257. This year they show a loss of £6.611. Revenue has increased by £1,917 to £224.426. while expenses amounting to £231.037 are higher by £11,785. The net revenue from miscellaneous services was £20,511, or £4,504 more than last year. Following is a summary of the net revenue for the nine periods of the current financial year:
Totals £134,155 £33,281 £184,335 £255,209 The working profits for 36 weeks are less by £275,198 than those for the corresponding period last year. Those from the North Island railways have fallen by £234,088, and those from the South Island railways by £64,471. Net revenue from other services than railway operation, which includes road motor services, have increased by £23,381.
North South Other Island. Island. Services. £ £ £ £ 27 45,254 41,985 20,126 507.365 May 2b 55,632 49.667 16.447 121.746 June 19,312 11,888 21.399 July 20 563 31,283 22,141 8.579 Auk. 17 3,212 25.736 18,376 20.158 4,148 Sept. i 4 16,274 16.034 20.398 12 15,941 27,866 22,670 21,136 0 16.432 29.294 22,208 23.518 Dec. 7 26.2S1 6.611 20,811 40,481
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Bibliographic details
Sun (Auckland), Volume III, Issue 867, 10 January 1930, Page 8
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373WORKING PROFITS DOWN Sun (Auckland), Volume III, Issue 867, 10 January 1930, Page 8
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