AFTER a lot of hard work to reduce costs this year, and success in increasing income in some areas, the Severn Valley Railway’s (SVR) contribution (or surplus) is anticipated to be slightly better than originally expected, depending on the success of the Christmas events.
Increased grants and donations, together with decreased expenditure have enabled the line to offset a lower budgeted income for 2022. However, the railway believes 2023 will be more challenging than this year.
Naturally, the SVR has been affected by both national and global events, including the cost-of-living crisis and soaring inflation, which have caused rapid rises in the cost of fuel, utilities and supplies, as well as staff shortages.
“We have had to be as agile as possible, reviewing and replanning all aspects of the business, as we react to a fast-changing environment,” explained Helen Smith, managing director, SVR (Holdings) plc.
“This year we have seen a drop in visitor numbers and rising costs for staff, food and supplies. Profit from food and beverage has dropped by 65% compared with what we expected at the start of the year. We have seen a
