Rising Costs Hit C.I.E.
5th October 1962, Page 48
5th October 1962
Page 48
Page 48, 5th October 1962
— Rising Costs Hit C.I.E.
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LTHOUGH operating revenues of Coras lompair Eireann for the 196162 year showed an all-round improvement, any advantage was more than wiped out by a heavy rise in costs, mainly wages and salaries. Rail revenues were up by £48,000, but operations of this section resulted in a working deficit of over £14-m. Road passenger and freight workings brought revenue increases of £478,040 and £433,000 respectively, the road passenger side resulting in a surplus of £511,458 and the road freight department a surplus of £118,960. For C.I.E. the overall result was a net deficit for the year of £1,696,000 compared with a deficit of £246,000 for the previous year.