South Wales Show a Profit
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AHEAVY increase in operating costs. mainly because of a substantial increase in basic wages and in the rate per hour, was reported by Mr. Raymond W. Birch, chairman of the South Wales Transport Co., Ltd„ at the company's annual meeting last week. In spite of this, the accounts for the year showed a profit. before tax, restored to the level at which it stood a few years ago, he said.
After criticizing the Chancellor of the Exchequer for not giving the industry any relief in fuel tax, Mr. Birch said that the proposed payroll tax, if it were applied to the bus industry, could have no other effect than to add to their already excessive fiscal burden again reflected ultimately in increased fares.
The South Wales fleet, at present 353, had been extended to cater for the services put on to replace the Mumbles Railway. They had taken delivery during the year of 21 double-decked vehicles, 10 single-decked vehicles and three coaches. Total cost of new rolling stock had been €210.000.