Circular Documents

30 Sep 2015

2015 Interim Announcement

The interim announcement for  Newbury Racecourse for the six months ended 30 June 2015.

Download Report

15 Jul 2015

Planning application submitted for Racecourse redevelopment

Racecourse refurb Aerial Location A_rev D

Newbury Racecourse plc (the “Company”), the racing, entertainment and events business, today announces that it has submitted detailed planning proposals for the racecourse redevelopment work that forms part of the major ongoing development project across the whole site.

As reported at the Company’s recent Annual General Meeting, the residential development on site continues to make very good progress, with most of the Western Area construction now complete and more than 200 homes occupied. The next phase of residential development in the Central Area, which will see the construction of 360 apartments, is due to commence later this year. The new access bridge from the north of the site is well advanced and is expected to be open in time for the three day bet365 Festival, featuring the Hennessy Gold Cup, in late November.

Significant progress has also been made on the racecourse infrastructure improvements, funded by David Wilson Homes as part of the land sale agreement. The new main public car park at the Eastern end of the racecourse is virtually complete and the new nursery and stable staff hostel buildings are due for completion at the end of this month, with the new Estate Yard already opened.

The Board has completed a detailed review of a number of potential improvements to the racecourse infrastructure, to be paid for by the Company, with the intention of refreshing certain key facilities for racegoers and other stakeholders to re-enforce the Company’s position as one of the UK’s leading racecourse and events venues. These works are focused on enhancing the racing experience at the same time as generating improved financial returns for the business in the long term.

These proposed racecourse infrastructure development works (“Infrastructure Enhancements”), which are estimated to have a total cost in the region of £20.0 million (and would be paid for by the Company), include:

Phase One

• A new west entrance and Horseman’s Club facility, with a bar for owners and trainers and a dining area and patio, which will double as a new events venue on non-racedays;
• Two new entrances to create a more attractive and customer-friendly arrival experience;
• A new, more modern administration office immediately above the Horseman’s Club;
• A new pre-parade ring with new saddling boxes adjacent;
• An expansion of the existing parade ring to include a completely new winners enclosure within the parade ring, enhanced viewing for the public and improved facilities for television broadcasters;
• Repositioned pavilion suites on the site of the existing saddling boxes;
• Landscaping around the grandstands;

Phase Two

• Refurbishment of the Berkshire Stand and Pall Mall building to provide improved facilities for both racing and conference customers

Subject to planning consent being granted, Phase One of the Infrastructure Enhancements (with an estimated cost of £13.5 million) would commence in January 2016 and be completed over a two year period.

The total proposed Infrastructure Enhancements outlined above, at an estimated total cost of £20.0 million, if fully undertaken by the Company, are more extensive than the previously proposed Racecourse Refurbishment Works as set out in the circular to shareholders dated 29 October 2012 (then estimated to cost £12.0 million). The Board considers that the revised programme of works will provide improved prospects for growth in the underlying profitability of the core business activities and are therefore in the best long term interests of shareholders. At this time the Board has committed to progress Phase One of the Infrastructure Enhancements only, at an estimated cost of £13.5 million.

It is the Board’s intention to review the timing of Phase Two of the Infrastructure Enhancements (which have an estimated cost of £6.5 million) in 2018, when there will be greater visibility of the likely financial returns from the residential developments.

It remains the Board’s intention to return capital to shareholders, as and when the residential developments at the racecourse generate cash receipts for the Company in excess of its expected required capital funding for the infrastructure improvements that are now planned and the company’s operating finance requirements. Given this, it is now not anticipated any such distribution would be before 2018 at the earliest.

Note: Outline planning permission for a 120 bedroom 4 star hotel remains in place from the originally approved application in 2010, but there are no immediate plans to commence work on this part of the project.

Regulatory News

6 Jun 2016

Director’s Dealings

The Company has been notified that following the purchase of 5,000 Ordinary shares of 10p each in the Company (‘Shares’) on 15 June 2016 at a price of GBP 5.10 per Share, Dominic J Burke, a non-executive Director of the Company, has a resultant interest in 36,000 Shares representing approximately 1.1 per cent of the Company’s issued share capital.

12 May 2016

Directors’ Dealings

The Company has been notified that following the purchase of 8,000 Ordinary shares of 10p each in the Company (‘Shares’) on 11 May 2016 at a price of GBP 5.25 per Share, Dominic J Burke, a non-executive Director of the Company, has a resultant interest in 31,000 Shares representing approximately 0.93 per cent of the Company’s issued share capital.

DOWNLOAD PDF

30 Sep 2015

2015 Interim Announcement

The interim announcement for  Newbury Racecourse for the six months ended 30 June 2015.

Download Report

Financial Reports

7 Jun 2016

A Decade of Innovation – Conference & Events Case Study

Introduction

In addition to its reputation for world-class horseracing Newbury Racecourse has become a firm favourite with local and national organisations as a meeting place for a spectrum of invited audiences. Accountancy and business advisory firm James Cowper Kreston has for the past decade held its annual Budget Review Breakfasts for local businesses and clients at Newbury Racecourse Conference and Events.

Background

One of the UK’s most innovative firms of accountants and business advisers, James Cowper Kreston draw on considerable experience and expertise to help businesses achieve real success. The firm services a spectrum of business clients from its six offices across the South of England – Newbury, Reading, Oxford, Henley, London and Southampton.

For 10 years James Cowper Kreston has been holding a flagship event spotlighting the annual Budget Statement at Newbury Racecourse. Having grown in popularity over the decade, the event now ranks as a go-to event for businesses across the southern counties.

The annual breakfast meeting takes place between 8 and 10:30am, and includes presentations from partners, external speakers, budget summaries and networking opportunities. By engaging like-minded business leaders in topical debate and focussing on what the changes mean in real terms, James Cowper Kreston underlines its role as the region’s premier advisory firm.

Challenge

With the event scheduled to follow quickly on from the Chancellor’s speech to Parliament, James Cowper Kreston is faced with a race against the clock to finalise details and implement the interactive seminar for businesses. The fact that live social media updates have become a source of information in addition to traditional media has created extra pressure and the need to continually innovate.

As an event designed to provide guidance, clarity and support on key changes and developments, it was imperative to source a venue that was accessible to the wide diaspora of clients and also large enough to accommodate the 300 delegates.

“A large percentage of our client base in the county is made up of independent businesses and SME’s,” commented Lizzie Uzzel, from the marketing team at James Cowper Kreston. “By providing this additional service to our clients and associates we are able to offer additional support and guidance to our valued customers.”

Solution

When Newbury Racecourse Conference and Events was first approached by James Cowper Kreston, the solution became abundantly clear.

The impressive Grandstand of Newbury Racecourse offers space for 550 delegates, which is sufficient to accommodate the 300 guests, complete state-of-the-art audio visual technology and allows access to balconies whereby guests can enjoy the superb views over the iconic racecourse and Berkshire countryside.

Furthermore, facilities include 3,700 parking spaces, easy access to the M4 and its own train station with direct links to Reading and London Paddington. The venue has evolved in the last decade, with a key focus on facility development, presentation equipment and delegate menus to improve the customer experience.

“We have always been delighted with the venue,” commented Lizzie. “The central location, ample parking and excellent service has always exceeded our expectations. In addition to London we have offices in Oxford, Newbury and Reading, so Newbury Racecourse was the obvious choice of venue because of its accessibility.” Lizzie added.

Results

The long-standing partnership between James Cowper Kreston and Newbury Racecourse has allowed both organisations to work in harmony to put on such successful events annually.

“We’re so familiar with the requirements of this event that we are able to provide our client with a service that reflects their needs year-on-year,” commented Sarah Birch, Conference & Events Business Development Manager for Newbury Racecourse.

“Because we work so closely with Lizzie and the James Cowper Kreston team, we are able to ensure that their every requirement is met efficiently and effectively, thereby guaranteeing that this event is a resounding success,” added Sarah.

The decade-long relationship means Newbury Racecourse Conference and Events’ staff are able to forecast ahead of the budget date announcement and can predict when James Cowper Kreston are likely to make a booking. From that point on, each step is perfectly orchestrated, from ensuring that the event flows seamlessly between breakfast and seminar to networking and presentations.

Additionally, Newbury Racecourse organisers, caterers and waiting staff are adept at making changes to the programme to accommodate any unforeseen circumstances, even when timings are altered or food must be delayed.

4 May 2016

2015 Preliminary Results

DOWNLOAD REPORT

30 Sep 2015

2015 Interim Announcement

The interim announcement for  Newbury Racecourse for the six months ended 30 June 2015.

Download Report

23 Apr 2015

Preliminary Results 2014

Newbury Racecourse plc, the racing, entertainment and events business, today announces its preliminary results for the twelve months ended 31 December 2014.

Download Report
page-info-shareholders-reports.php