Rally Revenues accelerate as WRC rights holder (ISC) heads back into profit
The holder of the commercial rights to the World Rally Championship halved its operating loss to £2.2 million last year as three more races were added to its calendar.
As reported by Christian Sylt & Carloine Reid in the Sunday Express
Accounts published on the eve of next weekend's end-of-season Rally GB reveal revenues at International Sportsworld Communicators (ISC) were up 5 per cent at £9.2 million as the series launched races in Ireland, Norway and Portugal.
The operating result was also boosted by an 11 per cent reduction in costs to £11.5 million, with one of the biggest savings coming from slashing staff embers bya third to 11. Further cuts are likely as the company navigates its was to profit.
In October 2007 Aston Martin chairman and rally impresario David Richards sold ISC to the TV production company NorthOne, which had been producing its broadcasts since 2000 at a cost of about 4.9 million per year.
The accounts state that, as a result of operational synergies and new sponsorship deals, the company will enter a period of sustained profitability from 2008.
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