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Racing Post's 2009 revenue down 10 per cent

But major races and online subscription have helped the racing newspaper ride out the recession, acc

Revenue from the newspaper and website is estimated to be around £50m for 2009, though the results are due to be declared next month. Earnings before interest, tax, depreciation and amortisation were around £15.6m, which is 10 per cent less than 2008.

Alan Byrne, chief executive of Racing Post, expects profits to bounce back in 2010 to pre-recession levels with the help of the company's online business. He said introducing online subscriptions for its website was the biggest thing the publication did in 2009.

Although the user base of the website dropped after the paper started charging for online content, Byrne said numbers were up by 30 to 40 per cent year-on-year, especially during its coverage of Cheltenham and the Grand National.