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Update At the Races galloping well - 20-March-2009, 11:10

At the Races galloping well

UK pay-TV sports broadcaster At The Races (ATR) saw revenues and profits move forward in the year to Dec 31 2008. The past year has seen ATR secure distribution in Turkey by Turkeys Jockey Club.

ATR CEO Matthew Imi said: 2008 was an exceptional year for ATR, despite difficult market conditions in certain sectors. All key financial indicators are up on the prior year and international expansion has continued apace. We are particularly pleased with growth in Australia and also entering the Turkish market for the first time.

We implemented major improvements to both the channel and online businesses in the first quarter of last year and immediately saw the results with increases in both our channel audience ratings and online unique users. Making our content widely available with no barriers to entry is a cornerstone of our business and we will continue to innovate and improve our production and online output to remain ahead of the competition, added Imi.

Even with the challenging trading conditions we are all facing, the strength of the business, with diversified and established revenue streams, leaves the Company in an excellent position for 2009.

Increase in turnover from 14.5m to 15.6m
Gross profits up from 9.6m to 10.5m
Operating profit of 1.4m, up from 348,000 in 2007
Record international distribution revenues
TV advertising commercial impacts +18%
Website affiliate revenues +89%
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