9th May 2025 11:24
(Alliance News) - Newbury Racecourse PLC on Friday reported a rise in its top and bottom lines for 2024, "despite a very challenging cost inflation environment."
Newbury Racecourse shares rose 11% to 565.00 pence on Friday morning on London's Aquis Exchange.
The Newbury, England-based racing, entertainment and events business reported a pretax profit of GBP1.1 million in 2024, up 53% from GBP719,000 the previous year.
The company's revenue rose 16% to GBP22.0 million from GBP19.0 million, but said growth was offset by cost inflation challenges.
Gains were driven by the success of several company initiatives, said Newbury, alongside benefitting from additional capacity in the children's nursery and the performance of its Conference & Events business.
It also reported an 18% increase in prize money for the year, rising to GBP6.9 million from GBP5.8 million, "despite a very challenging cost inflation environment."
Newbury Racecourse declared a final dividend of 6p per share, compared to no dividend in 2023.
Chair Dominic Burke said: "The company continues to invest in racecourse facilities to ensure that we provide high quality facilities for all of our visitors, events delegates, racegoers and racecourse attendees, as we continually strive to invest for the future benefit of the business."
By Olivia Mason-Myhill, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares: