It is difficult being all things to all people but that is the challenge faced by the Irish National Stud. Results from the past year suggest that, after the most difficult period in its long history, it is a challenge that one of the country’s brightest assets is dealing with successfully once again.

The appointment of John Osborne as chief executive in 2010 is probably the single most significant factor in a turn around from the turbulent times of fiscal failure and embarrassing, not to mention expensive legal issues. The ship needed steadying. A once proud institution had a reputation to restore.