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London docks switch
Page 42
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THE PORT of London Autl ority is changing from a administrative port authorii to a commercial undertakir offering port facilities ar cargo handling services.
In its annual report pul lished last week, the PLA sa■ that this change in attituc envisages a continuation statutory responsibilities.
But this will be done withoi prejudicing the service I customers, the report emph. sises.
There was a modest uptur in trade through the po during 1976 and an improv. ment in financial results.
A loss of £4.1 million bac), net interest charges in 19', was converted into a profit 1 £3.9 million before net intere charges in 1976.
After interest, the loss £8.36 million in 1975 became reduced loss of £1.75 millic last year.
One of the principal caus( of the losses in both years, the cost of carrying surpli personnel, says the report, ar though a reduction of 1,0( registered dockers wz planned, last year, the actu. reduction achieved was on; 504.