The racehorse training and bloodstock firm operated by the country’s most successful horse trainer, Aidan O’Brien last year enjoyed a bumper year recording profits of €1.269m.
Demonstrating that the Co Wexford native has the Midas touch on and off the racecourse, new figures lodged with the Companies Office show Mr O’Brien’s Whisperview Trading Ltd increased its accumulated profits by €1.269m from €4.35m to €5.62m in the 12 months to the end of Jan 31 last year.
Mr O’Brien, 44, who oversees the Ballydoyle stable at John Magnier’s Coolmore in south Tipperary was narrowly beaten to the British trainers’ title in 2012, having won it four times previously.
In Jun 2012, Camelot, trained by Mr O’Brien, romped home to win the English Invectec Derby and scoop £751,408 (€904,012) in prize money.
The horse was ridden by the trainer’s son, Joseph, then aged 19, and they became the first father/son, trainer/jockey combination to land the big race.
Speaking after the race, Mr O’Brien said: “You can’t even dream of days like this.”
The figures show that Whisperview Trading Ltd’s cash pile during the year almost doubled going from €634,803 to €1.14m.
The rise of €1.269m in accumulated profits last year is four times the €308,476 increase in profit in fiscal 2012.
The value of the company’s tangible assets last year increased from €9.54m to €11.37m.
The value of the firm’s financial assets rose from €638,935 to €800,800, while the value of the investment properties remained static at €250,000.
The amount owed by the firm in bank loans topped €4m last year.
The performances of the last two years represent a turnaround in fortunes for the firm that recorded a loss of €48,994 in 2011.
The loss in 2011 coincided with Whisperview recorded a tax settlement of more than €500,000 with the Revenue Commissioners that year.
At the time, Revenue said the settlement covered the under-declaration of corporation tax and PAYE/PRSI. It also said it qualified for an offshore assets inquiry case.
© Irish Examiner Ltd. All rights reserved