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Newbury Racecourse swings to loss in H1

Newbury Racecourse PLC said its first-half normalized net income came to a loss of 24 Great British pence per share, compared with 2 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £813,750, compared with income of £59,380 in the year-earlier period.

Total revenue grew year over year to £5.6 million from £5.5 million, and total operating expenses increased from the prior-year period to £5.8 million from £5.7 million.

Reported net income increased year over year to £17.2 million, or £5.14 per share, from £276,000, or 8 pence per share.