business summary

Ascot Racecourse is set to return record prize-money of £17.5 million to the sport in 2024, having announced on Monday its financial results for the 12 months ended December 31, 2023. Turnover for that period rose by 9% to £110.9 million, with a pre-tax profit of £5.9 million--up from £3.4 million in 2022. The 2023 business summary highlighted several other points of interest: Gross profit percentage fell from 34.5% to 33.8%, reflecting increased costs and general inflationary economic conditions. Profit before tax increased by £2.5 million but EBITDA (Earnings Before...

Edited Press Release The turnover at Ascot Racecourse exceeded £100 million for the first time with a strong recovery from COVID-19 last season. The return to profit will allow for record prize money of £17 million set to be returned to the sport in 2023 and a voluntary increased loan repayment will help reduce debt ahead of schedule. The 2022 business summary highlighted several points of improvement: A return to profit with a pre-tax profit of £3.4m after two difficult years of COVID-19 restrictions. This compares to a pre-COVID profit...

The 2020 financial results were announced by Ascot Racecourse on Wednesday. Total turnover was down by 77% due to COVID-19 restrictions with only two racedays being held with spectators and another 18 run behind closed doors. There were also five lost racedays due to the pandemic and one abandonment due to inclement weather. Pandemic insurance and support from the UK Government through the Coronavirus Job Retention Scheme and business rates relief prevented a pre-tax loss of over £31 million. In addition, the staff were restructured to adjust to pandemic trading...