Racecourse operator, Arena Leisure has said it is expecting to return a profit for the full year 2004 for the first time since 1999.

Speaking at the company’s AGM yesterday (14 June), chair, Roger Withers, said that 2003 showed record profits, record prize money levels and record attendance for the third year running and that 2004 had so far seen a strong performance.

He also welcomed the British Horseracing Board and the Office of Fair Trading’s agreement over the reform of British racing.

“The provisional agreement over the reform of British horseracing will see benefits for everyone connected with the sport. Arena remains well positioned to take advantage of these enhanced commercial opportunities,” he said.

Last Friday (11 June), a number of racecourses launched the new attheraces programming, following Arena’s joint venture to resurrect the channel with BSkyB.

As of yesterday’s AGM, group managing director, Ian Penrose, has now become chief executive of Arena Leisure.