Pre-tax profits at bloodstock group Robert J. Goff increased by 51 per cent to £1.03 million in the year ended March 31st, 1998, boosted by strong bloodstock sales.

Group sales rose to £4.3 million from £3.6 million a year earlier, while all the company's activities showed an improvement with pre-tax profits up 62 per cent at Goffs Ireland. Profits increased by 57 per cent at Goffs France and by 21 per cent at IBH, the bloodstock financing group.

Chairman Mr Michael Dargan said the company's bloodstock sales were the best ever in terms of the number of horses sold, average prices and total turnover, with the yearling sale proving the biggest contributor.

The breeding stock sale contributed a 30 per cent increase in turnover and an average price increase of 15 per cent, while the national hunt sale produced a 13 per cent rise in sales and a 10 per cent increase in average price.

Mr Dargan said the bloodstock market looked set to remain stable. "Our first of season sales so far in Ireland and from Goffs France have brought improved returns. Entries for the very important yearling sale are encouraging and we look forward to maintaining progress," he said.

Earnings per share increased by 48 per cent to 1.30 pence and the board increased the dividend to 0.45 pence from 0.35 pence.