Newbury Racecourse PLC - Sporting and events venue in Berkshire, England - Says 2023 revenue rose 9.2% to GBP19.0 million from GBP17.4 million the year before. Pretax profit more than tripled to GBP720,000 from GBP130,000 a year ago. Chair Dominic Burke comments: "Despite this overall revenue increase of 9%, our reported 2023 profit before tax (excluding exceptional profit) was marginally above break-even, demonstrating the challenges the industry faces from cost inflation, as well as the company's decision to make a significant investment into prize money. This additional prize money and executive contribution commitment will also extend into 2024 with record amounts announced. Any future increases in prize money will be dependent on the profitability of the underlying business."
Current stock price: 585.00 pence, untraded
12-month change: down 23%
By Sabrina Penty, Alliance News reporter
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