Business Irish

Sunday 19 November 2017

Shelbourne wins profit race, with Limerick lagging

Paddy Power Greyhound Derby.
Paddy Power Greyhound Derby.
Sarah McCabe

Sarah McCabe

IT'S A TALE of two cities for the greyhound industry, as newly filed accounts reveal very different outlooks for greyhound tracks in Limerick and Dublin.

Dublin's Shelbourne Greyhound Stadium made a profit of just under €87,000 in 2012, the accounts show, while the Limerick Greyhound Racing Track made a loss of around €363,000.

The two businesses' main source of revenue is by maintaining the racing tracks, as well as the sale of greyhounds.

Both are registered to Bord na gCon, the semi-state body tasked with the control of the Republic's greyhound industry.

Dublin's Shelbourne Greyhound Stadium made a profit, after tax and depreciation, of €86,539 in 2012. This was down from €97,424 the year before.

Turnover was €1.57m, almost unchanged from 2011, while expenses fell to €1.43m from €1.52m.

The Limerick track's loss, after tax and depreciation, was €393,461, widening from a loss of €329,988 in 2011. The company's annual expenses were almost double its revenue in the year, the accounts show.

Turnover was €488,804, down from €704,882 in 2011.

Both company accounts noted that "in common with many other companies in Ireland the company is facing increasing risks and uncertainties due to the current economic environment where the availability of consumer spending is reducing."

Irish Independent

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