Swindon & Wiltshire News
Conferences and business events help Newbury Racecourse romp home with £1 million profit
Hosting conferences and businesses events helped Newbury Racecourse romp home with £1.1 million in profit this financial year.
The company posted a revenue of £22.04 million for the year to 31 December 2024, a 16 per cent increase from £18.96 million in 2023.
Profit before tax increased to £1.1 million, compared with £720,000 the year before.
On the sporting front, the racecourse staged 30 fixtures during the year – up from 28 in 2023 – with attendances rising to nearly 134,000.
However, inflation, higher utilities costs, national minimum wage changes and a boost to prize money – up 18.1 per cent to £6.87 million – led to costs increasing by 10.6 per cent.
Looking ahead to 2025, the company said it had secured new sponsors for its flagship race days and confirmed four post-racing concerts as part of its Party in the Paddock series.
Dominic Burke, chairman of Newbury Racecourse plc, said: “I am delighted to announce a 16 per cent revenue growth in the underlying business, demonstrating the success of several initiatives across many areas of the business.
“The 2024 financial year was the first full year of our new media rights agreement. As anticipated, we have benefited by the positive financial impact of the additional capacity in the children’s nursery, as well as the performance of our conference & events business, as we continue to seek opportunities to diversify our revenue streams.
“The company’s commitment to prize money was demonstrated by an 18 per cent increase in 2024, compared with 2023, combined with a 22 per cent increase in our executive contribution. This investment into racing has been made despite a very challenging cost inflation environment.
“The company continues to invest in racecourse facilities to ensure that we provide high quality facilities for all of our visitors, event delegates, racegoers and racecourse attendees, as we continually strive to invest for the future benefit of the business.”
Pictured: Thames Valley Chamber of Commerce launched its annual Business Awards at Newbury Racecourse in March
