MotorSport profits race ahead

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The Independent Online

After-tax profits at MotorSport Vision, owner of five of Britain's most famous racing circuits, including Brands Hatch, accelerated 12 per cent to £4m last year as the success of driver Lewis Hamilton boosted interest in motorsport. Sales at the group surged 8 per cent to £41.1m as Hamilton's victory in Formula One pulled in more fans looking for the next home hero at other motorsport events.

The results are revealed in MotorSport Vision's accounts, filed earlier this month, for the year ending 31 December 2008. The company is based at Brands Hatch – the jewel in its crown. It hosts the UK rounds of the A1 Grand Prix championship as well as the F1 junior series Formula Two which raced there last weekend and is run by MotorSport Vision.

The circuits are the company's biggest cash generators, contributing £2.8m of its after-tax profit, up 41 per cent year-on-year. The remainder comes from its corporate racing events business and a 7 per cent stake in the British driver Justin Wilson, who raised £1.2m in 2003 by issuing shares linked to his earnings.