Article Date: 28-June-2012
The Irish National Stud returned to profit in 2011 after several years in the red. The stud published its latest set of accounts this week and they show that the stud made €20,342 last year – an improvement of €1 million on 2010.
Although revenue for the year fell from €6.8 million to €6.4 million, the stud shaved €600,000 of its overheads “with the continued focus on reducing costs”. The insurance payout following the death of Verglas also generated exception income for the stud last year.
The stud values its fixed assets at €12 million and its bloodstock at €9 million. Tourist numbers were up 2% last year.
John Osborne, chief executive of the INS, said: “We are always reliant on the income from a top class stallion or two and I describe Invincible Spirit as the strongest horse in the world since he carries an entire farm on his shoulders!”
To view the full set of accounts, click on the link below
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