Hope it is not creative accounting.
How can a profit at 1Q change to loss at 2Q ?
Now, they can use this reason to ask for the fee hike.
Shameless !!!!
They need an excuse to raise the fares.
1) Under income statement 2nd Qtr 2008, fuel and electricity
cost $52,436 K, while for 2nd Qtr 2007 it was $30,179 K. During the
span of 1 year, was there an increase of 73.75% for diesel? The
current price of diesel is $1.71 per litre, which means in 2nd Qtr
2007 the price of diesel would be $0.984 per litre. Even if the
price of diesel increased by 73.75% during the 1 year, it was
increased gradually, not an immediate increase to $1.71 per
litre.
Under that section there is also electricity. Don't tell me
electricity also increased by 73.75% during this one year?
The fuel & electricity costs includes the electrical cost of
the NEL lines too. What they are telling us for the Bus services
is. During the first quarter they made $9,386 K, but the
2nd quarter they loss ($3,119), so diesel cost have gone up
$12,505 in 3 months. Makes sense to anybody? Something is dubious
about the fuel and electricity cost.
2) There was an increase of vehicles, premises and equipment of
$61,242 K, from 2007 2nd Qtr of $251,487K to $312,729 K 2008 2nd
Qtr.
