Embsay and Bolton Abbey Railway Updates

I had no idea the turnover was that great - that's "premier league" territory in turnover, for a line which - with all due respect - I suspect most enthusiasts don't immediately think of when asked the question "what do you think are the most notable heritage railways".

Checking, I think the trading company is the "Yorkshire Dales Railway Museum Trust (Holdings) Ltd". Checking their accounts for 2025 (and making no judgement on whether or not they are profitable, just on gross income, it appears it was £4.236m, of which £3.674m was "Train services" and £421k "Other trading activities", plus some trifling other income to make up the balance.

To put that in context, a non-selective list of other railways that I suspect many might find notable. Again no attempt to justify whether these are profitable or not, just the headline turnover figures; and also allowing that company structures are different so there will be differences between what is and isn't in scope of these headline numbers, particularly in terms of some having legacies in scope and others not. But they give a quasi-ranking of scale.

Gross turnover (2024)

NYMR - £7.610m
Severn Valley - £6.826m
Bluebell - £4.777m
Embsay - £4.236m
West Somerset - £3.946m
Mid Hants - £3.626m
GCR - £3.508m
Isle of Wight - £3.260m
Talyllyn - £2.508m

That's by no means an exhaustive list, and I am sure someone with more time could do a better job of a deep dive specifically into trading income rather than gross to give a better measure of the sale of "railway operations" - but it is an eye-opener to me nonetheless; I had no idea the E&BASR was such a big player in financial terms.

Are there any other "sleepers" out there - railways that are under the enthusiast radar, but surprisingly big in trading activities?

Tom

 

The £5m I quoted was from a conversation at the HRA meeting and was along the lines of hope to achieve this year. I've subsequently delved into Companies House and see it was short of this last year but still impressive with a staff of 32 and wages costs of £708,548. Compare that with the NYMR's staffing and costs.

 

I'd rate headlining a dog ticket in advertising as something a little stronger then "misleading".

Noel

 

Thanks for posting those interesting figures. I was gob-smacked to learn that the E&BA is among the major heritage railways in financial terms. A short line in rural Yorkshire? They must be doing something right, even if not to the liking of all enthusiasts!

The Swanage appears to be comparable with the Mid-Hants and IoW at around £3M. I think the Paignton & Dartmouth would also be a high earner, but haven't checked - the train income might be wrapped up with river cruise income.

The other "biggie" must be the Ffestiniog & Welsh Highland. It took me a while to find the right entry on the Companies House web-site. Although the railway now generally uses Welsh spelling, its operating company is still registered under the English spelling - Festiniog Railway Company. Anyway, its overall turnover at £7.3M appears second only to the NYMR. Train tickets are only about two-thirds of its turnover, with hefty catering sales and various other things contributing. I have attached an extract from the most recent available FR accounts (2024), which readers can compare with the position for other railways.

 

The Churnet Valley Railway's gross turnover for 2024 was £3.434 million. I suspect that on the strength of the remarkable passenger figures for their Polar Express operation last Christmas, their 2025 turnover figure will increase.