North Norfolk Railway Announces Solid 2024/5 Financial Results

 

Shareholders attending the North Norfolk Railway PLC’s AGM on Saturday 19 July heard that the popular heritage railway had returned to profit in the year ending 31 January 2025 achieving a surplus of £207,987 for the full year – a welcome turnaround after the losses of £24,791 and £267,494 for the previous two years.

 

General Manager, Graham Hukins, who was appointed to the position in early 2024, paid tribute to the team of hard-working staff and volunteers that had contributed to the turnaround, “Last year was undoubtedly one of change with several team members taking on new roles and I must pay tribute to everyone that played a part in this success, particularly the Senior Management Team who have stepped up and helped oversee a very good result for the business.

 

“The news is particularly encouraging as we celebrate the line’s 50th Anniversary, with July marking five decades since pioneering volunteers re-opened the line between Sheringham and Weybourne. Services were extended to Holt in 1989 and we now attract 150,000 visitors every year, but caring for historic locomotives carriages, stations, track and bridges is an expensive business,” he added. “We need to earn over £4 million every year, just to stand still so everyone that visits is contributing to keeping the line alive.”

 

Earlier this year, the Railway and its supporting charity, the Midland & Great Northern Joint Railway Society, revised their structure with shareholders handing all voting rights to the Society meaning the Railway is at the heart of a charitable organisation. The line hopes this will provide a number of benefits in future as the two organisations align even more closely.

 

Although the railway made a net profit through trading, the excellent result was further bolstered by generous legacies from supporters. Fund Raising Manager, Hannah Drury, said “We are extremely grateful and humbled that people regard the Railway with such affection that they remember us in their will – their bequests will help ensure future generations can enjoy our lovingly-restored steam and diesel trains.”

 

The occasion also saw the launch of a Long Service Scheme for the line’s dedicated volunteers – many of whom have helped for decades. Long services badges based on those produced by a number of historic railway companies will be presented to volunteers completing 5, 10 and 20 years with additional certificates for every five years’ service. The first certificate was presented at the AGM to Chairman Steve Allen who has been involved for 49 of the 50 years that the line has been open.

 

The meeting coincided with the start of the railway’s peak summer season which sees two or more historic trains in action every day offering unlimited rides between Sheringham, Weybourne and Holt. Passengers can hop on and off all day savouring the different atmosphere at each station and exploring the attractions and facilities at each station.  Almost all the tasks necessary to run the trains are carried out by a team of around 600 dedicated volunteers. Full details can be found at nnrailway.co.uk/opening-dates/.

 

ENDS