Revenues race ahead at Godolphin's Irish operation to €32m

Thoroughbred stud operation is owned by ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum

Godolphin founder Sheikh Mohammed bin Rashid Al Maktoum during day five of Royal Ascot at Ascot Racecourse.

Losses at Sheikh Mohammed bin Rashid Al Maktoum's thoroughbred stud operation here, Godolphin, last year declined by 30% to €5.67m.

The sharp decrease in losses at the stud and farm operation came as revenues at Godolphin Ireland Ltd increased by 17%, from €27.44m to €32.13m.