Losing £15.4m, BR reports 'bleak' prospects
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• British Railways' losses last year amounted to £15.4m and the prospects for 1972 are "bleak".
A sharp fall in the carriage of coal and steel, which contributes over 45 per cent to railway freight receipts. was the main cause. says the annual report of the Railways Board published on Wednesday.
Carrying of aggregates, cement and oil increased, and more privately owned wagons of up to 100 tons gross laden weight came into use for long-term business in these markets.
During the year 25,000 more loaded containers were carried than in 1970. and the revenue from Freightliners Ltd or rail haulage was £6.2m, compared with £5.8m in the previous year.
National Carriers' use of rail trunk
services amounted to 520.000 loaded wagon jour.neys in addition to six daily express company trains, and a number of parcels carried increased by 2 per cent.
The Board claims that the Red Star station-to-station service by nominated passenger trains had considerable market appeal.
BR expects the signing of preliminary agreements between the Channel Tunnel companies and the British and French Government this year.
The Board initiated an appraisal of the financial effects on the various methods of working passenger and freight services between Britain and the Continent, as a preliminary to selecting the best method in terms of investments, service, quality and profitability.