NBC makes a f47m profit
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THE NATIONAL Bus Company made an operating profit of &Pm in 1983 according to its annual report published this week. This is an improvement of E8m on the previous year.
Over the whole group, passenger carryings dropped by around one per cent but productivity rose. Vehicle miles per employee rose from 11,600 to 11,900 and miles per vehicle rose from 42,100 to 42,300.
Vehicle operating costs rose by around 1.3 per cent by the end of 1983. The Secretary of State for Transport had set NBC a target to reduce operating costs by one per cent in real terms during the year. The company asserted that a performance aim based on the rate of retail price index is not wholly appropriate to it. Many of NBC costs are not based on items which reduce the rpi movement. Its wage costs, which are 70 per cent of its total costs, are established every March 1 and are not relative to the real rpi after that date.
A full report on the Natonal Bus Company reports will be in Coach and Bus news next week.