Companies: CRC   

Welsh racecourse Chepstow has returned to profit, despite three meetings in February and March being cancelled due to bad weather. The absence of foot-and-mouth, which in 2001 led to the cancellation of all race meetings, meant Chepstow was able to record a £207,000 pre-tax profit in the six months to June (losses in 2001 hit £226,000). Turnover jumped from £410,000 to £1.1m, helped by higher income at the turnstiles. A new deal with Bookmakers' Afternoon Greyhound Services for the broadcast of live races to betting shops also boosted income. At £9.7m, Chepstow has a racy valuation. Stay clear for now.