Irish National Stud warns losses pose real threat to its future

THE Irish National Stud is set to post a deficit of €4 million for 2009. New chief executive of the semi-state company John Osbourne said after a loss of €2.4m in 2008, even the benefits of multi-million euro windfall deals in recent years, and a €9.9m profit in 2007, had been wiped out.

He said financial troubles were threatening its status as the flagship of a national bloodstock industry.

“The danger of a rapid deterioration in what was a hero industry is very real.