The BBC has an article on the auditors report and so I wonder if this is what prompted NYMR to issue an update on 15th March 2024. Its tone is positive and optimistic but while I would like to put a link to The Yorkshire Post Page I am not sure it works. Also I don't know how to! I would like to think that the BBC would provide an update. Anyhow I quote from the article:
Finance director Garry Mumford said:
“It is important to note the auditor highlighted the notes in the accounts which discussed the difficulties the NYMR was facing at the time the report was written, in July 2023.
"These difficulties were around the cashflow challenges through the winter of 2023/24 (the one we are emerging from now) and the fact that at that stage we anticipated this would be very tight and therefore a risk. Like all businesses of our type, we have a huge cyclical cashflow with the winter having little or no income yet high costs on maintenance whilst we are not operating. The reality is, through good management over the 2023 year, we have come through the winter with cash headroom, so any potential problem has gone away."
“The NYMR navigated its way through the pandemic, relatively unscathed, however the past couple of years have been challenging with costs rising, post Covid 19. However, between February 2023 and February 2024, we have made some huge changes resulting in a positive movement in profitability of around half a million pounds. I am extremely positive about the 2024 operating season, and we are forecasting that the financial year ending February 2025, will show significant further improvement and that the result should be back to breaking even.”
There must be some good work going on behind the scenes at a time when running the railway must be challenging. Here's to a good summer season.