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Rochdale—Another Surplus
Page 53
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THERE was a net surplus on the work ings of Rochdale Transport Department in the year ended March 31. last, of £3,821, compared with £2,793 the previous year. Due to fares increases, revenue last year increased by £32,457, but working expenses increased by £20,466 to a total of £625,187.
It has been decided to set up a reserve fund for vehicle renewals and £20,000 was allocated for this purpose.
In his report, the general manager, Mr. Ronald Cox, states that the undertaking pays £60,592 for fuel tax, £5,883 in licence duties and £5,609 in local rates.
A total of 4,260,629 miles were operated, 4,114.232 of which were in service. The average m.p.g. was 8.79, and the average for lubricating oil was 807 m.p.g. Mr. Cox comments in his report that the consumption figures for lubricating oil have deteriorated due to a number of A.E.C.s approaching a quarter of a million miles without any major work being carried out on the engines.
Oldham Group Expands
HE BUSINESS of the Oldham Group has continued to expand both at home and overseas," declares Mr. John Oldham, chairman of the Manchester battery and electrical engineers organization, in the company's annual report.
Net profit of the parent company before tax amounted to £172,749 (against £125,473). Aggregate net profits of overseas and other subsidiaries amounted to £343.302 (against £285,497). Final dividend will be 10 . making 17-1% for the year on the ordinary capital as increased by the scrip issue. Aggregate capital and reserves £1.747.904 (against £1,666,7231.