Ticket income on the GWR is up 17.5 per cent against budget with the number of tickets sold over 9 per cent higher than at the same time last year. But, according to the railway's half-yearly report, share sales have slumped by more than 60 per cent, which could slow the railway's expansion plans.

"We are delighted to see so many families enjoying a fantastic train ride through the Cotswolds countryside," says Malcolm Temple, commercial and finance director of the railway. 

"We are run entirely by volunteers so every penny taken in train fares is ploughed back into maintaining and eveloping the line. But for major investment we rely heavily on sales of shares in the railway, for example the exciting four-and-a-quarter mile expansion to Broadway. We are within six months of completing the first stage of this extension, to Laverton (about two miles north of Toddington).  But if share income isn't boosted soon, it will mean a delay in getting to Broadway."

The GWR has re-launched its share push with, as Malcolm Temple explains, some great travel benefits for becoming a GWR shareholder. 

He says: "A single £100 unit of shares entitles a shareholder to three free tickets per year, worth £33 so it only takes three years to recoup practically all of that investment. But a £3,000 investment allows unlimited free travel for two people and there is a range of different incentives for smaller investment sums.  Shareholders will also be invited to ride on a special train to mark the opening of the new extension."

Malcolm Temple adds that shares can be purchased for as little as £10 per month and a share certificate is issued on completion of each unit of £100. 

The full list of benefits are as follows:

• 100 - 500 shares - Three free round trip vouchers per year
• 501 - 1000 shares - Four free round trip vouchers a year
• 1001 - 3000 shares - Five free round trip vouchers a year
• 3001 - 5000 shares -  Free unlimited travel for share holder plus two persons
• Over  5000 shares - as  3001 - 5000 except two persons becomes family (total 2 adults and 2 children) plus includes non bookable events

The GWR share brochure is available by writing to Garry Owen, The Railway Station, Toddington GL54 5DT or by filling in our online application form.