Teesside makes 1105,000 profit
9th June 1972, Page 26
9th June 1972
Page 26
Page 26, 9th June 1972
— Teesside makes 1105,000 profit
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• Teesside Corporation's bus services produced a trading surplus for the financial year just ended of £251,000 compared with £175,000 for the previous year, and a net profit of £105,000 compared with a £30,000 deficit.
The Transporter Bridge showed a net loss of £15,000 which exceeded the 1970-71 deficit by £3,000. The overall surplus was £90,000.
The borough treasurer, Mr J. B. Woodham, said last week: "The substantial fare increases in 1970-71 have more than Offset the wage awards and other increases which had their effect in 1971-2, while the increase from 25 to 50 per cent in the Government grant for new vehicles had also resulted in substantial savings".
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J. B. Woodham