Home of champion race horse Frankel, Newmarket stud farm Juddmonte Farms, goes into the red
- Credit: PA
The Suffolk-based UK arm of leading horse breeding business Juddemonte Farms has posted a loss for the financial year up to December 31st 2016.
Accounts filed by the company, which has a base in Newmarket as well as headquarters in Kentucky, US, and is owned by Prince Khalid bin Abdullah of the Saudi Arabian royal family, showed revenues dropped to £45.6m during 2016 from £53.4m 12 months earlier.
The company, which counts champion thoroughbred Frankel among its stud horses, also registered a pre-tax loss of £152,874 compared with a profit of £8.7m in 2015.
A note filed with the accounts stated: “Turnover decreased in 2016 due to a lower average stud fee.”
However, the statement continued: “Demand for the younger stallions in 2017 Northern Hemisphere covering season has been high and therefore turnover is expected to return to growth again in 2017.”