L.G.O.C. Results and Statistics for 1926.
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THE annual statement of the directors of the London General Omnibus Co., Ltd., for the calendar year 1026 was issued last week. It showed that during the year the number of passengers carried on the company's omnibuses totalled 1,249,353,228, an increase of 12,805,475 over the previous year, when the number carried was 1,236,547,753. The average number of passengers carried each day rose to 3,712,788, or 54,363 more than in the previous year.
The number of buses owned by the company was reduced during the year by 201, having fallen from 4,136 to 3,935, but, in addition, the company ip operating 768 buses belonging to other proprietors, or 200 more than in the previous year. The company's buses now 'run over 860 miles of roads, 59 miles of new route having been opened during the year. The traffic receipts for the year, after the operation of the Common Fund of the Underground group, which brings into the accounts the sum of £202,871, amounted to £.8,371,713. Expenditure totalled £7,998,915, bringing the net receipts from traffic to £3672,798, to which must be added £389,411 from rent, advertising, interest, etc., the total net income, therefore, being, £762,209. The net receipts from traffic were 122,764 less than in 1925, but the miscellaneous receipts (rent, advertising, ete:) were £59,519 greater, so that in the result the total netincome for 1926 was £36,755 in excess of that for 1925.
Deducting interest, rentals and other fixed charges amounting to 1224,335. and bringing forward the balance of 167,501 from the previous year's account, the balance available for disposal is £595,375, or 123,743 better than in 1925. The directors propose to appropriate to reserve for contingencies and renewals £325,000 as against £300,000 in the previous year. The balance then available for dividends on the ordinary shares is £270,375, which is actually £1,257 less than in 1925. An interim dividend of a per cent, for the year on the ordinary shares was paid in July last, and the directors now recommend a final dividend of a further 3 per cent. for the year (the wholeof the dividend being -free from income tax), and there will remain a sum of 164,125 to be carried forward-The industrial troubles of last year caused the reduction in the number of bus-miles.
During the year a sum of 1802,848 was expended on capital account, and £750,000 of debentures and 4,952 I19 shares were issued. The directors and staff are to be congratulated upon the success of their enterprise.