The Jockey Club, owners of the world-famous Cheltenham jump racing festival, has posted record financial results.

A business committed to investing its takings back into the sport the latest figures also reveal it was able to make the largest-ever contribution to British horse racing's prize money.

It marks a ninth successive year of revenue growth for the Jockey Club, which also stages the Randox Health Grand National Festival and The Investec Derby Festival.

The commercial group operates 15 racecourses as well as racehorse training centres at Newmarket, Lambourn and Epsom, and The National Stud.

Simon Bazalgette, group chief executive of The Jockey Club, which has its headquarters in London, said: "We're working hard to build The Jockey Club brand to create more value to benefit British Racing, including through the record partnership revenues we're now achieving, and we're now making some good strides in terms of our efforts to engage more people across the country in our sport, which is vital for the future."

The owner of the Prestbury venue which stages spring's annual Cheltenham Festival is British Racing's largest commercial group, welcomed four million people to its venues nationwide in 2017.

Punters turned up to watch 334 racing fixtures and thousands of other events and leisure activities.

Governed by Royal Charter "to act for the long-term good of British Racing and reinvests all profits back into the sport", the Jockey Club revenues exceeded £200 million for the first time (2017: £201.1 million, up 5.2 per cent on 2016: £191.5 million).

This was driven by increased revenues from general admissions, media, hospitality and commercial partnerships.

All of which allowed the group to record its largest-ever operating profit before prize money of £44.8 million, up from the previous year's £43.4 million.

This allowed it to increase the amount it contributes to British Racing's prize money from its own resources by £2.1 million - a year-on-year increase of 10.1 per cent - to a record £22.9 million in 2017 (2016: £20.8 million).

This was the key driver of record total prize money at its 15 racecourses of £45.7 million over the year (2016: £43.6 million).

"Prize money provides an important return for racehorse owners and is vital to the livelihoods of trainers, racing staff and jockeys," said the organisation.

Over the last decade, The Jockey Club has nearly doubled its group turnover (2008: £100.9 million, 99.3 per cent increase).

In this time it has increased its group operating profit before prize money by 39.1 per cent (2008: £32.2 million) and its contribution to prize money by 74.8 per cent (2008: £13.1 million).