Goffs sees welcome return to profit after difficult period

BLOODSTOCK sales group Robert Goff has returned to profit, with Goffs chairwoman Eimear Mulhern stating that the group has managed to come through a very difficult period and has now stabilised its finances.

Accounts filed by Robert J Goff & Co show that the company recorded a profit of €3.46 million in the 12 months to the end of March this year. This followed a pre-tax loss of €6.4m in the 2010 fiscal year.

The chief factor behind the company returning to profit was the €2.8m profit Goffs made from the €7.5 million sale of 26% of its share in French bloodstock auctioneers Arqana Holdings. The deal left Goffs with a 5% share of Arqana.