Timeweave profits suffer

Timeweave, the holding company of a group which owns a 50 percent holding in Amalgamated Racing (AMRAC), which holds licences to broadcast from 34 racecourses, saw profit before tax drop for the year ended December 31st.

Timeweave, the holding company of a group which owns a 50 percent holding in Amalgamated Racing (AMRAC), which holds licences to broadcast from 34 racecourses, saw profit before tax drop for the year ended December 31st.

Pre-tax profit fell from £7.71m in 2010 to £7.15m in 2011, after revenues fell from £29.9m to £28.2m, which the firm emphasised was against a backdrop of economic turmoil. Operating costs during the period decreased from £22.4m to £21.3m.

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