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Flying Scotsman cuts losses
FLYING Scotsman, the Ofex-listed owner of the world’s most famous steam locomotive, has narrowed its first-half losses.
The company posted a pre-tax loss of 218,000 for the six months to June, down from 276,000 a year earlier, and said it was experiencing difficulties in identifying a suitable site for the Flying Scotsman after plans for a 2 million visitor centre at Edinburgh’s Waverley Station fell through, sparking fears that the 80-year-old locomotive could move abroad.
The plans originally outlined a 25,000 sq ft visitor centre, but Network Rail’s refusal to sign a deal forced the company to consider scaling down its plans.
Chairman Peter Shea said the firm’s board is concerned about its financial condition and "expects to make further announcements in the course of the next few days".
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Friday 25 May 2012
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