Ascot Racecourse today announces its financial results for the 12 months ending 31stDecember 2016.
Ascot Authority (Holdings) Limited (AAHL) reported a pre-tax profit of £5.1 million.
Cost of sales
Other operating income
Group operating profit
Group share of operating profit of associate
Interest receivable and similar income
Interest payable and similar charges
Profit on ordinary activities before taxation
Guy Henderson, Chief Executive at Ascot, said:
“2016 was another year of solid financial performance and operational improvement. The current year has developed in line with management expectations and we are well set for the Royal Meeting.
“We are all excited about the opening of the new Village Enclosure, the first new enclosure since the Five Shilling Stand was opened in 1908, continuing our strategy of increasing choice and reducing crowd density in other enclosures.
“The continuing growth in our international appeal is pleasing. In 2017, we particularly look forward to Royal Ascot being broadcast live across the US on NBC for 5 hours every day.
“I would like to thank our official partners, QIPCO and Gigaset, and all our official and raceday sponsors for their continued and valued support and all the staff of Ascot Racecourse, full time and raceday, for all their efforts to deliver for our customers. Together, they enable the racecourse to be able to maintain and increase prize money, to continue to invest £5m a year in maintaining and improving our facilities and to continue to repay our debt ahead of schedule.”