R.H.E. Now Making a Profit
Page 30
If you've noticed an error in this article please click here to report it so we can fix it.
'TEE Road Haulage Executive. which I lost over Lim. last year, is now making a profit. Sir Reginald Wilson, comptroller of the British Transport Commission, who gave this information to the Transport Tribunal last week, said that the Executive was expected to show "quite a reasonable plus" on the year's work
The R.H.E. would provide roost of the extra revenue. that the Commission expected from other principal activities." These, last year, brought in £7.6m. net, but this year the profit on them was expected to be £12.1m.
Sir Reginald said that to write off book values of obsolescent plant, maintain, the undertaking and establish a general reserve, the Commission needed net receipts of £77m, a year. The Commission's invested funds were rapidly being exhausted, and it would soon have to borrow money.
Since the beginning of this year, the working expenses of the London system had increased by £6m. a year.
The B.T.C. could not expect large economies from major development schemes for about five years, Sir Reginald declared.
The hearing was continued on Tuesday.