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Birmingham Post
Birmingham Post
Business
Tom Keighley

Newcastle Racecourse sees turnover and profits boosted following Covid restrictions

Crowds returning to fixtures at Newcastle Racecourse have delivered a welcome hike in turnover and profit for the company behind the venue.

New accounts published at Companies House for High Gosforth Park Limited, which operates the course, show turnover grew from £12.3m to £15.2m in the year to the end of December 2021. Meanwhile operating profits also improved from £317,880 to £573,55, leaving directors "optimistic" for the future.

Thanks to the end of Covid restrictions in July 2021 and full capacity crowds being allowed back to the site, the racecourse significantly increased the number of meetings it held during the period to 63, up from just 21 the year before. However, the total number of permanent staff decreased from 51 to 30 during the year.

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