Amtrak deficit GBP 34million

The report shows that for the year to 31 May 2008, the company had made a GBP 15.3m loss, despite a turnover of more than GBP 57m.

The report shows that for the year to 31 May 2008, the company had made a GBP 15.3m loss, despite a turnover of more than GBP 57m.

According to documents just filed at Companies House by the administrators Amtrak has a deficit of GBP 34.1million.

Restructuring costs had been expected to cause significant losses in 2007, but the expectation was that trading should have improved the following year.
But the report concludes “However, a combination of customer losses, weaker volumes as the market contracted and ongoing price competition meant that losses continued to be incurred.”