Tuesday 27 September 2016

Olympian's horse firm strikes gold with €1.4m in profits

Gordon Deegan

Published 13/10/2015 | 02:30

Olympic medalist Cian O'Connor
Olympic medalist Cian O'Connor

The horse-breeding firm operated by Olympic medalist Cian O'Connor struck gold last year to almost double its accumulated profits to €1.4m.

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New figures show that O'Connor's Ronnoco Jump cleared all hurdles to record revenues of €4.7m last year made up of horse sales, coaching, prize-money and consulting income.

The firm recorded profits of €686,000 as the firm's accumulated profits jumped to €1.4m.

The firm's cash pile increased by 97pc from €337,832 to €665,141.

The value of tangible assets also increased, from €93,275 to €457,250.

In an interview, Mr O'Connor, inset, said that 2014 was the "best ever year" enjoyed by the firm. He said: "We're very happy with how last year went. We have a very good team here."

Mr O'Connor stated that the business performance this year, "will be on par with 2014. We have built up a good momentum now." He said: "There are ups and downs in the business, but we have had more ups than downs recently."

O'Connor established his business as the Karlswood Stables at Tara, Co Meath, in 2008 but he said that winning the Olympic bronze at London in 2012 was "a game-changer" for the business.

O'Connor said that after that, the firm's coaching business really took off.

Irish Independent

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