Newbury Racecourse plc release end-of-year figures
Racecourse enjoys a good year with 15 per cent increase in turnover
NEWBURY Racecourse enjoyed a positive year in 2015 with attendances and business turnover both increasing, according to the latest figures released this week.
Newbury Racecourse plc, the racing, entertainment and events business, announced its preliminary results yesterday for the 12 months ending December 31, 2015.
Trading business turnover was up 15 per cent to £14.3m, with racing revenues also up 15 per cent, while raceday attendance increased by seven per cent to 210,000.
The racecourse saw significant improvements in the trading performance across a number of areas of the business, with conference and events revenues growing by 31 per cent.
The full-year profit after tax was £1.61m, reflecting a 15-per-cent increase in turnover to £14.3m.
The bet365 Hennessy Festival saw an attendance of 30,000 with the turn out on Hennessy Gold Cup day the highest for 21 years.
The development also saw houses and apartments continue to sell well, with the first phase in the western area now 98 per cent sold and construction of the second phase in the central area having now commenced.
Chairman of Newbury Racecourse plc, Dominic Burke, said: “We are delighted with the tremendous progress made on both the residential development by David Wilson Homes and the delivery of a number of racecourse infrastructure improvements during the year.
“The plans for our own redevelopment, which will enhance the raceday experience and generate improved financial returns for the business in the long term, were approved in October and works will commence in the summer of 2016.”