Turnover up at Newbury Racecourse

Increased footfall leads to revenue boost against a loss of £380,000

Newbury Racecourse saw its turnover increase in the first six months of the year.

The company announced its interim results for the first six months of the year today (Friday).

A 24 per cent increase in attendance accounted for a rise in revenue, leading to a 10 per cent increase in turnover compared with the same period last year.

The company saw overall operating losses for the first six months of £0.27m, a five per cent improvement on the same period last year (2016: £0.28m).

And with no exceptional items to report in the period the loss on ordinary activities after tax was £0.38m, compared to £17.2m in 2016.

The 36 bedroom hotel The Lodge made £270,000 in revenue during the first six months of the year, while the Rocking Horse Nursery saw a 31 per cent increase in income.

Chairman of Newbury Racecourse plc, Dominic Burke, said: “In the first six months of 2017 we have continued to make good progress against our strategy of redevelopment and growth, with 10 per cent growth in total turnover.

"We remain confident in the delivery of a positive financial outturn for the remainder of 2017.”

For more on the company's performance see Thursday's Newbury Weekly News.