25 January 2008 – The Staffordshire Sentinel
The company which owns Uttoxeter Racecourse has unveiled increased profits for 2007.Underlying earnings at Northern Racing were up 6.9 per cent to £6.2 million for the calendar year.
Income from admissions rose 8.6 per cent, and hospitality sales were up £400,000 on the back of an increase in visitor numbers of more than 8,400.
The contribution from events and venue hire rose to £1.4 million, up 8.6 per cent on the 2006 figures.
The nine-strong racecourse group, which was bought by the billionaire Reuben Brothers last year, said it was focusing on building its core businesses and increasing income from events.
Tony Kelly, the group managing director, said: “Last year was encouraging, with earnings rising both on racing days and in our conferences business.”
“Using our venues for a growing number of non-racing events helps to underpin our core horse racing business.
“Although we did not lose any major racing fixtures during the year, the weather did impact upon us – as it did the entire horse racing industry – with the loss of 13 race meetings.”
Northern Racing owns racecourses at Bath, Brighton, Fontwell Park, Great Yarmouth, Hereford, Newcastle, Sedgefield and Uttoxeter.