IT 'breaks even
25th April 1975, Page 6
25th April 1975
Page 6
Page 6, 25th April 1975
— IT 'breaks even
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LONDON Transport had a working deficit of £10m in 1974 despite a support grant of £23.6m from the GLC. This was revealed in the annual report published on Wednesday. By carrying forward a surplus of £10m from 1973 the financial result was into balance.
Road service passenger receipts in 1974 rose by £1.3m, mainly as a result of a 2.4 per cent increase in passengers carried despite a 3.6 per cent drop in bus mileage brought about largely by staff shortages.
At £153m, LT collected nearly Elm more in traffic receipts than in 1973.