The owners of Brighton Racecourse said money flowing in from events and venue hire had helped to boost profits in the first half of 2005.

Northern Racing, which also owns Fontwell, near Arundel, reported pre-tax profits for the six months to June 30 of £900,000, against £700,000 last time.

Turnover for the same period was £15 million, compared to £13.7 million in 2004.

The improvements were despite the loss of £600,000 in income from the Attheraces television contract which was terminated in 2004. The group said earnings from events and venue hire had increased by 22.3 per cent in the first half.

Chairman Graham Stow said: "We continue to focus on our core activities, supported by development opportunities that exist within the estate, and these bode well for the future."

So far trading in the second half of the year had been "in line with expectations" and the group could "look forward to the future with confidence".

Northern has spent £5 million in five years transforming Brighton Racecourse from a crumbling ruin into one of Brighton and Hove's most successful attractions.

This year there have been 23 days of racing including a number of "theme" events to attract a wider audience and build closer links with the community.

These have included an Office Party night, Albion raceday, a Blue Light night for emergency services, family fun days and The Argus's 125 anniversary day.

The racecourse has also been hired out for various high-profile events such as the Brighton and Hove Business Awards and the Southern FM Firework Party.

About 60,000 people are expected to have been through the gates when Brighton's season ends on October 30 - a huge increase on visitor numbers in the Nineties.

Seven years ago the average crowd was about 400 but now it stands between 2,500 and 3,000.

Meanwhile, turnover from non-racing events has increased from £30,000 to £1.5 million.

Brighton Racecourse manager Matt Hudson said: "The development of venues to create new hospitality opportunities is vital to our long-term plan at Northern Racing.

"Events help fund the development of our racecourses and also help us improve our customer facilities."

He said Brighton racecourse had hosted more than 1,000 events this year and expected revenues from venue hire and events to have eclipsed those from race days within the next two years.

Northern Racing, which was founded by the late Sir Stanley Clarke in 1988, also owns courses at Sedgefield, Newcastle, Uttoxeter, Chepstow, Bath, Hereford and Great Yarmouth.

Wednesday, September 28, 2005