Brosnan stud farm profits race ahead
ACCUMULATED profits at the bloodstock firm co-owned by Kerry Group founder Denis Brosnan last year climbed to €4.2m.
Accounts filed by Epona Bloodstock with the Companies Office show that the business enjoyed profits of €362,241 in the 12 months to the end of June last.
The profits last year follow profits of €602,912 in 2015.
The accounts show that Mr Brosnan ploughed €2.5m into the business last year.
Mr Brosnan was repaid €1.5m during the year and was owed €986,014 at the end of last June.
Epona Bloodstock is the firm that operates the 270acre Croom House Stud farm in west Limerick.
Croom House is the property of Denis and Joan Brosnan, who purchased the house and lands in 1986, restored the stables and yards and brought their own thoroughbred horses onto the property.
Thirty broodmares are kept, owned by Denis and Joan Brosnan or by the family company Epona Bloodstock.
The accounts state that the company derives its revenues from the sale and keep of bloodstock and livestock.
The team at Croom House is led by Denis Brosnan’s son, Cathal Brosnan and the staff has grown over the years.
The accounts show that Cathal Brosnan was owed €238,140 at the end of last year after loaning a net €83,000 to the company.
The new accounts show that the firm employed 12 people last year with staff costs totalling €609,831.
Payments to directors totalled €94,395.