Well done the Racing Post for riding out the recession

Racing Post, which provides coverage of racing and sports betting, said that big events such as the Grand National as well as a drive to develop its online business have helped it stay the course during the recession.

The newspaper and website is expected to report revenue of around £50m for 2009 when it posts results within the next month. Earnings before interest, tax, depreciation and amortisation were £15.6m, down 10pc compared with 2008.

Alan Byrne, Racing Post's chief executive, said revenues had been hit by the decline in print advertising, but expects this year's profits to rebound to pre-recession levels with the help of its online business. He told The Daily Telegraph: "It has been a combination of dealing with the decline in print advertising but also working hard to broaden revenue base to generate more revenues in other areas."
Racing Post launched its online subscription service Racing Post Members' Club in July last year. Packages start at £7.50 per month and membership is now close to 11,000.

Mr Byrne said that although user numbers dipped in the period immediately after it started charging for online content, numbers were up 30pc to 40pc year-on-year during its coverage of Cheltenham and the Grand National. "The challenge for everyone is that there is no point in having a huge audience without revenue."

Racing Post, acquired from Trinity Mirror by Dublin-based FL Partners in 2007, also generates revenue by taking commission on betting transactions it secures online for bookmakers, which are among its biggest advertisers. Mr Byrne said he would be closely watching the progress of bookmakers because it would have a direct impact on Racing Post.

"They'll all be hurting after the Grand National," he said, but added that this summer's football World Cup in South Africa would be "the betting event of 2010".