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COVENTRY'S FIRST TRANSPORT LOSS SINCE 1957

8th June 1962, Page 30
8th June 1962
Page 30
Page 30, 8th June 1962 — COVENTRY'S FIRST TRANSPORT LOSS SINCE 1957
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LAST year the Coventry Transport Undertaking made its first loss since 1957. The deficit was 08,746 for the year ended March 31 last and, after utilizing a balance of £55,176 from the reserve fund, a deficiency of £43,570 bas been carried forward into 1962-63. Revenue for the year was £1,924,745£158,757 more than in the previous year. Working expenses increased by £131,630.

Increased fares largely accounted for the additional revenue and the increase in working expenses was mainly due to wage awards, introduction of a five-day week and additional expenses in respect of pensions and national insurance.