Farming

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Community spirit hailed as mart posts significant results

Sixmilebridge Livestock Mart has recorded profits of €101,981 in 2012.

Profit after tax for the end of the year was an impressive €86,626, while the mart's net assets – a mix of shareholder funds and cash at the bank was €481,713, up from €390,000 at the end of 2011.

Its success has been hailed as a victory for the local community, which united to rejuvenate the business, doubling overall sales from 7,000 head before its closure to almost 15,000 in 2012.

The decision of 683 shareholders to buy at least one €500 share when the mart reopened in August 2011 has been vindicated as their initial total share investment increased from €341,500 to €481,713.

While secretary Eddie Punch is pleased with the results, he insists the mart will not rest on its laurels.

"These results are a tribute to the community who ignored the negative analysis when the mart closed," Mr Punch said.

Up to 20 people are employed, mostly on a part-time basis.

Irish Independent