Southdown Profit Falls
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MET profit of the Southdown Motor Services Ltd. Iasi year was down by 07,466 compared with the previous year, largely because of the severe winter and increased competition of the private car said chairman Mr. R. P. Beddow at the 49th annual general meeting last week. Passengers on stage carriage services dropped by nearly 3m. (2-7 per cent), but express services passengers increased by nearly 90,000 (8.7 per cent).
Mr. Beddow said that the end of the company's financial year coincided with the second complete year's operation of the joint Brighton Area Transport Services. The final stages of the traffic reorganization in the joint area had now been effected, he said, bringing the elimination of the protective fare system.
In the past year, 54 new vehicles were added to the fleet, including 25 singledecker 36-ft. service vehicles.
During the year the company acquired the licensed services of G. F. Graves and Son (Redhill) Ltd.; the small extendedtours interest of Comfy Coaches Ltd. of Farnham, and purchased the business of Bucks Luxury Coaches of Worthing, and the share capital of Brighton Motor Conveyances Ltd.
Speaking on the Beeching Report, the chairman said that the effect of this on the company's operating area was limited.