East Kent's Good R esults in Hard Year
Page 32
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DESPITE the effect on traffic of a hard winter and a poor summer, East Kent Road Car Co. Ltd.'s net income in the year ended September 30, 1963, was £11,685 higher than in the previous year. Gross income increased by £98,762 to £2,444,466 but costs and charges were up by £87,077. These figures were commented upon by the chairman, Mr. R. P. Beddow, at the company's annual general meeting on Monday, when he said that £70,000 was being placed to general reserve. Like Mr. John Spencer Wills and Mr. R. J. Ellery (see last week), Mr. Beddow welcomed the Crowther and Buchanan reports and said he hoped a policy of allout priority for and encouragement to public transport, backed by "a new financial approach", would be adopted. There were strong indications that the Government favoured the idea of a clear run for buses unimpeded by traffic jams. The "new financial approach" should certainly include relief from special taxation, said Mr. Beddow, Mr. Beddow recorded that the bus and coach business of Newmans Ltd. of Hythe and the coach business of Joseph Ovenden and Sons Ltd. of Margate had been acquired in 1963 by East Kent. During 1963, East Kent had added 10 new 49-seat service coaches and 23 new 72-seat double-deckers to the fleet. Ten 33135-seat single-deckers and 32 53-seat double-deckers has been disposed of