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Best yet profits for buses
Page 6
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National Bus Company presented its best financial results since its formation in 1968. Net profit rose by almost £4 million to £9.6 million, and a three per cent drop in passenger journeys was the lowest for nearly 10 years.
NBC sees its market analysis project (MAP) as the key to a stable future. Begun by Midland Red for services in Stratford-upon-Avon and later in Evesham, it has been expanded to cover many parts of England and Wales.
MAP's aim is to match services to areas' needs and to recover shortfalls on revenue where uneconomic services do not attract local authority' grants.
Services will be cut where insufficient local authority support is forthcoming, but NBC says that careful application of market analysis will help to make changes reflect public need and minimise hardship.
Economies last year cut 2.7 per cent from overall mileage and reduced the number of vehicles by 3.6 per cent.
There was a 4.1 per cent reduction in staff, and one man operation now accounts for 74 per cent of all stage service mileage.
National Travel had another shaky year, due partly to the effects of inflation and pressures on incomes upon the public's spending power.
Express service passenger journeys at 11 million dropped by 3.4 per cent. The greatest decline was at National Travel (South East) — 5.6 per cent — and its services are under urgent review.
National holiday tours traffic last year is described as "below expectations".
In a veiled reference to British Rail's extension of Big City Saver tickets on certain Inter City services, NBC says that it is contrary to the public interest for special low fares to be promoted where BR and NBC are in competition.
It says that, generally, BR and NBC operate in different markets and that the scope for competition is limited.