Northern Ireland Board Has Operating Profit of £286,000
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THE report and accounts of the Northern Ireland Road Transport Board for the year ended September 30, 1941, which have just been issued, show an operating profit of 2286,794, this being arrived at after setting aside £185,000 for depreciation and deferred maintenance, and providing for wardamage insurance. Receipts from traffic amounted to £2,085,766 compared with £1,043,116 for the previous year, whilst expenditure, including depreciation and deferred maintenance, totalled £1,798,972, against £975,643 in the previous year.
There was a big increase in the demand for passenger transport during the year, and it has been the policy of the Board to endeavour to meet all demands for transport arising out of work essential to the war effort. This has badly strained vehicle resources, but the Board has considered it to be its bounden duty to press on with this policy.
Pressure on the freight services was equally great, and there have been heavy
calls on this side for essential work.
With the approval of the appropriate Ministry, the Board devised working arrangements with a number of owners of freight vehicles, whereby a large fleet of privately owned lorries was put at its disposal, for either .part-time or whole-time service ore agreed terms. In addition, it has been possible to augment the fleet in' other ways.
To the operating profit has to be added other receipts of £10,484, making a total of £297,278, from which has to be deducted miscellaneous rents of £8,427, leaving a credit balance of £288,851. After charging interest on consideration for undertakings acquired, the credit balance to be carried forward to the appropriation account is £288,422, the corresp'onding figure for the previous year being £65,986The debit balance on this account at September 30 last was £474,576.
The Board is to establish a general reserve fund, with an appropriation of 410,000, and is taking step., to set up a contributory pensions scheme.