Newbury results improved by enhanced race deal with Turf TV

 
Oliver Smith
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NEWBURY Racecourse reported profit yesterday of £800,000 in the six months to 30 June, up from the £1.5m loss it reported in the same period of 2012.

The company said much of the profit came from income generated from an enhanced media contract with Turf TV over broadcast rights for Newbury’s races.

“The new media rights agreement with Turf TV will support revenues in the longer term while the recent cost review exercise will deliver savings in the second six months, with the full benefit in 2014.

“The development secures future cash flows underpinning our confidence for the longer term,” said Newbury Racecourse chairman Dominic Burke.

The Racecourse warned that trading conditions remain tough with attendance figures continuing to disappoint.