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£200,000 Profit Will Be Absorbed

22nd April 1960, Page 49
22nd April 1960
Page 49
Page 49, 22nd April 1960 — £200,000 Profit Will Be Absorbed
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PAA PROFIT of £200,000 which was earned by Birmingham Transport Department during the financial year ended March 31, will be eaten up by the new staff wages and conditions award.

Mr. W. H. Smith, general manager, said last week that although final figures were still being prepared, the decline in the number of passengers carried, compared with the previous year, had been slowed. Indications were that about 2m. passengers had been lost during the past year, compared with nearly 8m the previous year.

Net profit for the first six months was £126,808, and this figure was unlikely to be increased greatly for the full year.