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The New Zealand Railways Magazine, Volume 7, Issue 1 (May 1, 1932.)

A Better Outlook

A Better Outlook.

In the financial year which ended on the 31st March last, the most pleasing feature in the net revenue position was the steady improvement shown in the closing months. With 32 weeks of the year gone, the improvement, compared with the corresponding term in the previous year, was only £32,000, but in the remaining 20 weeks, this figure was brought up to £149,000. Thus the net revenue for the year has risen from £688,728 to £837,973.

The Department's calculations regarding economies made necessary through reduced business have come very close to the figures estimated, but the decline in traffic has been more serious than was anticipated. The outlook, however, is now better, and I anticipate that the improvement shown in the net financial position during recent months will be maintained, especially if the relative prices of New Zealand's primary products improve in the near future (as appears likely), and remembering always that very close relationship which exists between the prices obtained for primary products and the amount of business which the Department is called upon to do.