The Investment Column: Brands Hatch
Tuesday 28 September 1999
The key to this was Brands Hatch's acquisition of the Daytona karting circuits, which contributed pounds 1.17m to the pounds 10.4m turnover. And the company is lining up a bright future, having secured the Formula One Grand Prix rights at Brands Hatch for six years from 2002. It also has rights to the second round of the World Superbike championship in 2000 and a share in British Superbike, also from 2000.
In the second half, the group's expenditure in organic expansion will kick in as its newly-launched Supercar and Rally Schools activities' units begin to bear fruit. Turnover from these activities rose 30 per cent in the period to pounds 2.64m, the second biggest contributor behind the events division, which netted pounds 2.83m.
Nicola Foulston, Brands Hatch's chief executive, plans to concentrate on consolidation and will probably make no more acquisitions in the second half. But she has not given up her hopes of winning control of the Silverstone racing circuit and says she would be willing to negotiate a deal with its owners, the British Racing Drivers' Club.
International expansion is also on the agenda, probably in places such as the Far East, South America, Africa and the Middle East where motorsports are virtually an unknown quantity.
Yesterday's results were in line with expectations and analysts have forecast full-year profits before tax of pounds 5.4m and earnings per share of 17.7p. No dividend was announced yesterday because this is always paid at the end of the year but in 1998 investors scooped a healthy 4p a share. With sustained organic growth on the cards, the shares, at 385p look cheap.
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 4 How the language you speak changes your view of the world
General Election 2015: Fishing is on Nigel Farage's mind as he casts a line to the disaffected of Grimsby
The man who filmed the Freddie Gray video has been arrested at gunpoint
Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
Russian warships accused of 'chasing away' Swedish vessel to prevent Baltic States from achieving energy independence
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...
£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...
£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...