Second profit for SYT
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• South Yorkshire Transport has recorded its second profit in the latest set of accounts, up to March 1990, but the results were down on the previous year and were insufficient to wipe out an accumulated deficit which had originally stood at Over 25m.
Profit in the 12 months up to March was clown from £2.7m to £1.3m, while turnover increased marginally from £51.7m to £53m. The residual deficit, however, incurred in the first 18 months of trading, now stands at £1.5m.
Managing director Peter Sephton describes the results as satisfactory, especially as many of the benefits of reorganisation have not yet had time to flow through into the accounts. He is particularly pleased with the increase in value of SYT. Gross assets increased from £32m to nearly £40m, with the net value of the company doubling to £15m.
South Yorkshire PTE's newest transport interchange was completed in Sheffield at the turn of the year.
Built for £9.4m on the old Pond Street site; it is expected to cater for 70,000 passengers a day with 53 bus stands, a concourse and facilities for coach travellers.