By Gordon Deegan
Profits at the bloodstock firm co-owned by businessman Denis Brosnan fell back sharply last year.
That is according to accounts filed by Epona Bloodstock Ltd with the Companies Office which show that the business posted profits of €273,360 in the 12 months to the end of June.
Epona recorded profits of €362,241 in 2016 and €602,912 in 2015.
Accumulated profits climbed to almost €4.48m.
Epona Bloodstock is the firm that operates the 270-acre Croom House Stud farm in west Limerick.
The accounts show that Mr Brosnan ploughed €305,392 into the business last year and was repaid €962,235 during the year.
He was owed €329,171 at the end of June 2017.
Croom House is the property of Denis and Joan Brosnan, who purchased the house and lands in 1986.
They restored the stables and yards and brought their own thoroughbred horses onto the property.
The yard has 30 broodmares, owned by Denis and Joan Brosnan or by the family company Epona Bloodstock.
The accounts show the company derives all its revenues from the sale and rearing of bloodstock and livestock.
The team at Croom House is led by Mr Brosnan’s son, Cathal Brosnan, while the staff has grown over the years. The new accounts show staff numbers last year increased to 13.
Staff costs increased from €609,831 to €658,129. Payments to directors totalled €94,395.
Loans to the firm are secured by a personal guarantee not exceeding €5m by Denis Brosnan.