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Severe weather hits Arena Leisure profits

By BFN News | 08:43 AM | Friday 14 January, 2011


Arena Leisure's full year profits will be £0.3m-£0.4m lower than its forecasts after severe weather forced seven race meeting to be abandoned. But it says a £0.1m gain on the year-end revaluation of interest rate derivative contracts will partly mitigate this shortfall. Arena said its three all-weather tracks staged six additional meetings in December at short notice, which made a positive contribution to group profit. But it says this was less than would have been the case had the scheduled fixtures gone ahead as planned. The group's racecourses - Doncaster, Royal Windsor, Lingfield Park, Southwell, Wolverhampton, Folkestone and Worcester - staged a total of 352 fixtures in 2010 (2009: 370). Average attendance for the full year increased by an industry-leading 4.4% to 1,803 (2009: 1,727), with a total attendance of 633,000 (2009: 639,000). The previously reported year-on-year trend of 15% growth in hospitality attendance continued through to the end of the period. Story provided by StockMarketWire.com

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