Profits at Brosnan blood stock firm reach €4.2m

Accumulated profits at the bloodstock firm co-owned by former Kerry Group supremo Denis Brosnan last year climbed to €4.2m.

That is according to accounts filed by Epona Bloodstock Ltd with the Companies Office which show that the business posted a profit of €362,241 in the 12 months to the end of June.

In 2015, Epona Blood stock posted a profit of €602,912.

The accounts show Mr Brosnan ploughed €2.5m into the business and was repaid €1.5m last year.

He is owed €986,014, according to the latest accounts. Epona Bloodstock operates the 270-acre 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.

They restored the stables and yards and brought their own thoroughbred horses onto the property.

Croom House keeps 30 broodmares, owned by Denis and Joan Brosnan, or by the family company Epona Bloodstock Ltd.

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 Mr Brosnan’s son, Cathal.

Staff numbers have increased over the years.

The new accounts show that the firm employed 12 people last year.

Its staff costs came to a total of €609,831.

The accounts show that Cathal Brosnan was owed €238,140 at the end of last year. He had loaned the company a net €83,000.

Payments to directors came to a total of €94,395.

Loans to the firm are secured by a personal guarantee of €5m by Denis Brosnan.