Croke Park makes €13.5m for GAA

THE Croke Park management company handed over €13.5m to the Ard Chomhairle, the central council of the GAA, last year, more than double the 2006 amount.

Latest accounts filed for Páirc an Chrócaigh Teoranta show profit before tax increased slightly in 2007 to €3.6m from €3.3m in 2006. Pre-tax profits before the Ard Chomhairle contribution rose from €9.3m to €17.1m.

Turnover jumped to €44.3m from €31.7m in the previous year.

Total borrowings stood at €16.6m at the end of last year.

Corporate facilities at the stadium generated €10.6m in income while the hire of other facilities raked in €10.9m. Repairs of the ground and match day costs amounted to €5.1m while redevelopment related expenses amounted to almost €396,000.

Staff and security costs came to €1.6m up from €1.5m in 2006.

The average number of employees working for the company at the end of the year was 29 an increase of three. Three grounds staff were employed, 18 in marketing and administration and eight in management.

The directors note that loss of revenue, customers and key staff are the main risks that could affect the company’s financial position.

The accounts also note that it has insurances and structures to limit economic risks and said the board of directors regularly review, reassess and proactively limit the associated risks.

The accounts show that pension investments made by the company, through a combination of equities, bonds and property, held up relatively well in the period rising in value to €6.9m from 6.6m.