First profit in five years
18th June 1971, Page 41
18th June 1971
Page 41
Page 41, 18th June 1971
— First profit in five years
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• Lowestoft (Suffolk) Corporation buses have made a profit for the first time in five years. The amount, just £632, compares with a deficit of £14,698 for the previous year to March 31.
Expenditure, said Mr A. G. Beckett, borough treasurer's department, had gone up by 11 per cent (nearly £10,000) but for higher fares, a bigger subsidy from the rate fund and economies brought about by one-man-operated buses, they would have faced a shortfall of about £19,000.
A member of the transport committee commented: "Don't let us kid ourselves we are making a profit. It is all coming out of the rate fund."