Profits jump by over €216k at O'Connor's horse-breeding firm
THE sports horse-breeding firm operated by international show-jumper and Olympic medalist Cian O'Connor cleared all hurdles last year to record profits of €216,885.
Figures just lodged by Mr O'Connor's Ronnoco Jump Ltd with the Companies Office show that the firm enjoyed the boost in fortunes after revenues topped €4.65m.
The figures show that accumulated profits at the firm increased from €411,175 to €628,060 in the 12 months to the end of December last.
The improved performance by the Co Meath-based firm, which employs 12, coincided with Mr O'Connor grabbing bronze in the 2012 London Olympics.
Mr O'Connor established his bloodstock business as his Karlswood Stables at Tara, Co Meath, in 2008.
In an interview yesterday, Mr O'Connor said that the firm "experienced steady growth last year and its performance reflected an increase in sales and more confidence in our customer market". The 33-year old said: "The international acclaim resulting from the winning of the individual bronze medal at the 2012 London Olympics has brought me and my company to the attention of a number of international owners and sponsors."
He pointed out: "This has the added benefit of bringing international owners, riders, sponsors among others to Ireland, not just to visit us at Karlswood Stables but also to recognise Ireland generally as a centre of excellence for equestrian activities."
Mr O'Connor – who became a father for the first time last week – said that the firm's revenues were made up of bloodstock sales and high-level coaching.
He said: "We experienced increased business on all fronts last year. We enjoyed an excellent year of consolidation."
He added that the firm specialised in developing the potential of top-class horses where, he said, there was huge demand.
The market for top-class horses in a lucrative one, with one show-jumping horse recently sold in Austria for €11m.
Mr O'Connor said that he was "very happy" with how the firm performed last year. He says that "2013 has been a solid year and is matching 2012".
He said: "We believe 2013 is an important year for Ronnoco and we look forward to building on the increased activity and attention brought to the company as a result of the success of previous horses sold and of the 2012 Olympic success."
Mr O'Connor said the bulk of revenues was made up of 15 horse sales last year.