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Arena expects FY to be in line with forecasts

By BFN News | 08:16 AM | Friday 12 November, 2010

Horseracing group Arena Leisure expects its full year results to be in line with market forecasts - although it remains cautious about the last two months of the year, particularly on hotel trading and non-racing events. Arena says it remains well placed with its increasing diversification of income streams: notably through in-house catering, ATR media distribution, and the Lingfield hotel. But it adds: "The significant reduction in Levy yield, together with the added uncertainty of the 2011-12 scheme having been referred to the Government for determination, means that we expect another challenging year in 2011. "Based on the above it is difficult to anticipate material overall growth in 2011." Story provided by

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