Another year, another Melbourne Cup thriller. After Michelle Payne’s triumph 12 months ago, the 2016 edition of the famous race had a lot to live up to yet it did not disappoint as Almandin, piloted by Kerrin McEvoy, galloped to victory in one of the closest finishes in the Cup’s 156-year history.

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In a stirring ride down the home straight as the rain began to fall at Flemington Racecourse, the injury-prone gelding broke clear of Irish raider Heartbreak City, ridden by Brazilian Joao Moreira, with just metres to run in a thrilling finish to give owner Lloyd Williams his fifth Melbourne Cup victory.

The official winning margin was a long head and four-and-a-quarter lengths.

It was another disappointing Cup for Godolphin, with pre-race favourite Hartnell settling for third and stable-mate Qewy running fourth, leaving Sheikh Mohammed still searching for the prize he covets so much.

Hartnell’s placing means just one favourite has won in the past 11 years – Fiorente in 2013. For McEvoy, it was his second Melbourne Cup win, 16 years after his first, with Brew in 2000.

“I’m more nervous now than I was in the race,” he said afterwards. “I feel very privileged to have won my second Melbourne Cup. It’s a dream come true.

“I said when I got off, you win one, you want to win another one. I am very lucky to be on this horse. He was there the whole way, travelled great, what a buzz.”

McEvoy thanked Williams for the faith shown in him before the owner congratulated his trainer Robert Hickmott, who also enjoyed Cup success with Green Moon in 2012.

“He’s been with me for probably 15 years now,” said Williams, who is rarely seen trackside but was on hand this time to watch his charge surge to victory. “There is no better person as an employee of a racing stable. I’m a very, very difficult boss, I have to tell you. So he’s gone through thick and thin with me. He’s got this result today.”

Almandin’s career has been chequered with injuries and before Tuesday he had been limited to just 11 starts. A two-year spell out was ended this winter and he went on to break through with victories in the Harry White Classic and the Bart Cummings (2,500m) at Flemington on 2 October.

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He had been kept fresh in the buildup to Tuesday’s race and had not been sent out to race in a month. McEvoy said of Almandin: “He’s had his troubles on his way, but he’s been well handled by Lloyd.”

Almaldin, formerly trained in Germany, started fourth in the betting at $11, behind Hartnell, Oceanographer and Jameka, after being well supported since the draw, which allocated him barrier 17.

Who Shot The Barman and Almoonqith grabbed fifth and sixth place respectively, while Oceanographer came in 12th and Jameka, the only Australian-bred horse in the $6.2m race, could only manage 15th.

Rose of Virginia finished last in the 24-horse field, although the New Zealand mare was eased out of the race by her jockey Ben Thompson and crossed the line so far behind she did not record a time.

The seven-year-old suffered a minor abrasion to her right hind leg and a moderate case of exercise-induced pulmonary haemorrhage, a non life-threatening condition characterised by the presence of blood within a horse’s airways.

A Racing Victoria spokesperson said neither are likely to have an impact on the horse’s future racing career and she is expected to make a full recovery within days.

The forecasted rain held off for the start of the race before a few heavy drops fell as the field headed into the final straight, although it was too little too late to affect the going, which remained good throughout.