Slight losses for The Jockey Club 07/06/2010 |
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The Jockey Club has announced slight losses over the past year, despite the launch of a £140 million investment programme.
The company, which is the largest commercial group in horseracing, made a turnover of £99.9 million in 2009 in contrast to the £100.9 million 12 months earlier.
A net profit of £3.7 million was also down on the previous mark of £6.2 million in 2008.
Profit for the year was reduced by the cost of borrowing to help fund the £140 million investment in improving the company’s facilities.
Debt was reduced by £4.3 million to £114.2 million last year and The Jockey Club remain confident of reducing that total further over the next year.
Meanwhile, attendances increased to 1.79 million following the rise of events from 347 to 374.
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