The Jockey Club
We also delivered another relatively strong set of returns from our Jockey Club Live summer music nights. We had strong returns from Nile Rogers and Chic, George Ezra, Paloma Faith and Craig David, while some other acts were less successful and overall returns were slightly behind 2017. However, music nights remain a major source of earnings and our risk exposure is limited by the structure of the joint venture agreement.
We staged 339 fixtures at our 15 racecourses in 2018, with seven additional fixtures partly compensating for 16 weather- related abandonments. We benefited significantly from a new betting shop media rights contract with SIS, which went live in April 2018. This materially increased the value of these rights for the latter nine months of the year. Field size performance continued to be strong, aside from the summer period previously noted and this was
£10.4m Capital expenditure in 2018
2015
2016
2017
2018
£m £m £m
£m
Group financial performance Turnover Operating profit before prize money
214.6
183.3
191.5 43.4
201.1 44.8
48.1
41.8 21.9
21
Operating profit
22.6
21.9
0.3
Profit on sale of tangible fixed assets
0.1
-0.1
0.5
-9.3 -7.9
Net depreciation
-5.4 -6.6
-6
-7
Net interest
-7.8
-7.8
1.2 0.1
Other finance costs
1.4
-1.4
1
Gains/(losses) on changes in fair value of inves ments
0.4 -1.4
0.6
0.4
0 0
HBLB waived grants
-0.8
0 0
Exceptional items
0
3.5
4.5
Net profit after share of associates PAT
10.9
10.8
9.1
2015
2016
2017
2018
£m £m £m
£m
Group turnover breakdown Jockey Club Racecourses
203.9
174.2
182
191.7
7.3 3.3
Jockey Club Estates
6.5
6.9
7
The National Stud
2.5
2.5
2.3
0.1
Club fees
0.1
0.1
0.1
214.6
Total
183.3
191.5
201.1
23
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