Britain's Jockey Club posts $40m profit

Britain's Jockey Club has announced a record set of figures, including £22.6 million (S$40.4 million) of profit on a bumper turnover of almost £200 million.

The organisation, which stages several of the most popular events in British sport including racing's Grand National, The Cheltenham Festival and The Derby, delivered its eighth successive year of turnover growth with a record £191.5 million.

"It is fantastic to stage events that see the best horses and the experiences we offer bringing enjoyment to so many millions of people each year," said chief executive Simon Bazalgette.

"That helped make 2016 a good year financially, and meant we were able to support our sport even more than the year before."

The Jockey Club ploughed a record £20.8 million back into racing via prize money. Total prize money at Jockey Club racecourses in 2016 was £43.6 million.

The racing body's figures were boosted by the attendance of a combined 1.92 million people at the 333 racedays it staged.

Founded in 1750, the Jockey Club operates 15 racecourses nationwide, The National Stud, Jockey Club Estates, Jockey Club Catering, Jockey Club Live and its charity, Racing Welfare.

Limited by Royal Charter, the club generates profits to reinvest back into Britain's second-biggest spectator sport. -REUTERS