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LUT profit down

2nd October 1970, Page 25
2nd October 1970
Page 25
Page 25, 2nd October 1970 — LUT profit down
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Which of the following most accurately describes the problem?

• The directors of Lancashire United Transport Ltd in an interim statement, reveal that the profits after charging depreciation for the half-year ended June 28 1970 amounted to £60,100 (1969: £129,800). The shortfall had been caused (1) largely by the result of drivers' shorter hours regulations and (2) a rise in costs, the principal element being two large increases in wages.