Friday, 5 September 2014

GWSR PLC Financial Position at the half year, 31 July 2014

Dear All,

I was pleased to be able to report to the Board on Friday 29th August that the operations of the railway in the 6 months to 31 July 2014 have been very good financially, both in terms of operating profit and cash flow.
The good cash results were despite having to absorb the cost of a number of unbudgeted items which included remedial work on the slips at Dixton Cutting and Defford Straight and the purchase of a second Ford Transit.
In addition, I am pleased to advise you that cash inflow into the Bridges to Broadway share issue has been good although we are not quite there yet - with two months of the offer to go if you have been holding off buying shares now's the time!
I think everybody is well aware of the excellent work being done by George Law and Co. on the bridges supervised by John Balderstone, and the fantastic progress being made at Broadway by Bill Britton's team.
Looking ahead to next year, 2015 will be a very important year for us in our drive to reach Broadway in both civil engineering and tracking laying northwards from Laverton and continued development of the station site.
Accordingly, with the Board's approval, I have asked all heads of department to look carefully at all second half expenditure to ensure our cash resources by the year end are as large as possible in order to be able to fully support next year's investment in our railway.
These are good times on our railway!
If anybody has any questions for me please email
Best wishes,
Chris Bristow

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