Losses narrow at Godolphin to €4.23m as revenues climb to €31.12m

A major contributor to the losses was the high operating lease rentals

Sheikh Mohammed bin Rashid Al Maktoum's Godolphin operations in Ireland comprise five farms and the numbers employed last year totalled 225. Picture: Getty

Losses at Sheikh Mohammed bin Rashid Al Maktoum's thoroughbred horse racing stable here, Godolphin last year almost halved to €4.23m.

The 49pc reduction in losses at the stud operation came as revenues at Godolphin Ireland Ltd increased by 14pc from €27.29m to €31.1m in the 12 months to the end of December last.