Business
Preliminary results - year ended 31 December 2024
Preliminary results - year ended 31 December 2024.
About this update from Newbury Racecourse Plc
[{"type":"text","content":"\n\n\n \nThe information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n9 May 2025\nNEWBURY RACECOURSE PLC\n(the \"Racecourse\" or the \"Company\")\nPreliminary results for the twelve months ended 31 December 2024\n \nNewbury Racecourse plc, the racing, entertainment and events business, today announces its preliminary results for the twelve months ended 31 December 2024.\n \n2024 Financial and Business Summary\n \n· Revenue of £22.04m (2023: £18.96m), an increase of 16.3%.\n· Profit before tax of £1.1m (2023: £0.72m).\n· Consolidated group profit on ordinary activities after tax of £0.79m (2023: £0.72m). \n· Raceday attendances of 133,896 (2023: 129,836). Thirty race meetings compared with twenty-eight in 2023, with one race meeting abandoned as a result of adverse weather.\n· Raceday attendances, excluding \"Party In the Paddock\" events and adjusted for abandonments, of 101,738 (2023: 95,753). \n· The impact of inflation, the National Minimum Wage, increased cost of utilities and additional prize money investment all contributed to an 10.6% increase in the cost base.\n· 18.1% increase in total prize money paid to £6.87m (2023: £5.82m) with a 22.0% increase in executive contribution to £3.45m (2023: £2.82m), both metrics unadjusted for the abandoned fixtures. This followed previous record prize money increases in 2023.\n· New five-year Media Rights Agreement with Arena Leisure/Sky Sports Racing fully effective from 1 January 2024.\n· Five races on Lockinge Stakes Day included within the World Pool, the collaboration between global pool betting totes and the Hong Kong Jockey Club.\n· Shaun Hinds joined as the Company's new Chief Executive in June 2024 and is already having a positive impact wit...