|
|
|
|
"When we met in the Community College Hall at Minehead a year ago, I found myself justifying the substantial losses made by your Company in 2008. In the year now under review, the story is very different. In a moment, our financial director will illuminate some of the information contained in our Financial Statements. It makes for more comfortable and encouraging reading.
|
|
|
These better results have not been achieved without cost. The people who rely on the Company as their employer accepted a miserly pay award, and have done so again in 2010. Historically, the rates we pay are not generous. We are also employing slightly fewer people.
|
|
|
However, it is not just our paid people who made sacrifices. We are all affected by the increased costs of fuel, and many of our volunteers find the costs of travel to the Railway are increasing faster than their income. I want therefore to begin today by paying tribute and saying thank you on your behalf to everyone who has carried out some task or work for us.
|
|
|
The efforts of our work force are at the core of everything that happens on your Railway. Sometimes they get a little help. Last year this arrived in the form of Tornado. This fabulous new locomotive could not be more aptly named from a WSR point of view.She swept in traffic receipts like a Tornado, and added substantially to our cash, our reputation as a Railway able to handle a super star, and most importantly, our morale and sense of well being.
|
|
|
We also received a more hopeful report from our Civil Engineers regarding the Mineral Line Bridge at Watchet. Extensive repairs are essential, but not immediately required. Thus |
| we have been able to deal with, and catch up with a lot of work elsewhere on our infrastructure.
|
|
|
The Mineral Line bridge repairs will take place in the first weeks of 2011.
|
|
|
You will note that I described the repair as extensive. Change the T in extensive for a P, and we read expensive, and I can but thank you for your generous response to our Bridge appeal. We also need to note our gratitude to the West Somerset Railway Association for they have pledged £50,000 to help with the anticipated £140,000 costs.
|
|
|
The year ended with our receiving the Heritage Railway Association’s premier award. The award is made by a committee of eminent railway managers and the editors of the national railway industry magazines, not an easy audience to please, making receipt of the award for the second time in five years very gratifying indeed.
|
|
|
As we enjoy the best early summer for years, it is hard to remember just how severely the winter now passed affected our ability to attract passengers. The early months of 2010 were a cause for worry. Your Board, ever optimistic, had set ambitious targets but seriously unpleasant weather reduced numbers to our Spring Gala, and by the end of May we were trailing £48000 below budget. However the trend from the end of May has been positive and we are creeping ahead in June.
|
|
|
|
We have everything to play for as potential customers come to terms with life “post emergency budget” and we enter our busiest 3months period.
|
|
| Tornado arrives on 12th July
|
|
| Despite difficult trading conditions, we have been able to continue the development of the locomotive compound at Bishops Lydeard. The long awaited second siding and inspection pit has been installed, and new waste water disposal arrangements have made the site environmentally friendly.
|
|
| Work continues on no.7828 Odney Manor. I am sorry that it is not complete for you today, but it awaits your inspection at Minehead this afternoon. I am not sure if you will have time to get to the carriage shed to see our new Buffet - its completion is more imminent.
|
|
| At Norton Fitzwarren, the Association’s project to install a triangle is proceeding apace, and it is my hope that we will one day soon be able to turn you from “facing to back” without your having to leave your carriage seat.
|
|
| Beyond Norton Fitzwarrren the national network beckons, operation of excursions from elsewhere is routine, high output ballast trains arrive and depart without notice, and a passenger train that sees daytime service to Bristol and beyond stables regularly at Bishops Lydeard over night. Incrementally, we are moving ever nearer to providing a Bishops Lydeard - Bristol service, but we are not there yet and much remains to be done to get the regulatory framework right, and more importantly get the money right.
|
|
| We are suffering growing pains at Bishops Lydeard. I have recently opened a dialogue with the local authorities with the aim of providing ourselves with additional car parking and other facilities there. The last thing we want is for our heritage railway customers to turn up and find all available car parking filled by commuters on the early train to Bristol.
|
|
| I suspect that most people hardly give a thought as to what is really involved in running a heritage railway.
|
|
| A few enthusiasts turn up wearing unsuitable hats and anoraks and by some miracle a train runs.
|
|
| Well it is mostly a miracle, but a different kind of miracle borne of skilled, hard headed professional often unpaid management, supporting endless, unrelenting hard and often dirty work.
|
|
| For many years we have wanted to sell tickets from Stogumber and Crowcombe Heathfield Stations. First steps involved the Repair and Maintenance Team (RAMS) preparing the station buildings, the administrators wrote and delivered local instructions and training in revenue management, and yesterday at about 1020hrs the first tickets were sold from the booking office at Crowcombe for over 40years.
|
|
| Many of you will have seen work progressing on the waiting room at Stogumber, another RAMS project.
|
|
| For all aspects of Railway work, willing enthusiasts have to be trained not only in the rules that ensure safe working for all, but also in all that is required to provide a warm welcome and comfortable ride for our passengers.
|
|
| And of course passengers are all important. It is their cash that turns itself in to paint and sleepers and the restoration of locomotives, carriages, in fact everything that makes the Railway.
|
|
| We have to accept that not all of our potential visitors share our total enthusiasm for our trains. They may want more from their day out, and your commercial team are reporting good response from new day out packages involving a train ride plus visit to Hestercombe Gardens , or classic coach trip over Exmoor.
|
|
| Retail purchasing opportunities and catering all add to the “complete day out” concept and of course provide essential additional income.
|
|
| This combination of shareholder capital, the voluntary work carried out by about a thousand volunteers, and the income generated from trading contribute to make our Railway successful. Each is important and interdependent. Whilst we continue to work together, each contributing according to circumstance and ability, our Railway will be secure for the future. Thank you all for your contribution in what ever form it takes."
|
|
Mark Smith
Chairman
26th June 2010
|
|
