Profits more than double at Henry de Bromhead’s training operation

Grand National-winning trainer Henry de Bromhead saw profits at his Co Waterford-based training operation more than double to €477,998 last year.

New accounts filed by Mr de Bromhead's Knockeen Racing Ltd show that post-tax profits increased by 144.5 per cent from €195,492 in 2019 to €477,998 in the 12 months to the end of September last.

At the end of September last, accumulated profits at Mr de Bromhead’s Knockeen Racing had climbed to €1.56 million.

Mr de Bromhead is the toast of the racing world in Ireland and Britain having won the Champion Hurdle, Champion Chase and the Gold Cup at the Cheltenham Festival in the same year.

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His race partnership with Tipperary jockey Rachael Blackmore has paid rich dividends, with  Blackmore creating history when she was the first woman jockey to win the Grand National on the de Bromhead-trained Minella Times.

The win earned Minella Times owner JP McManus £375,000 in prize money. Mr de Bromhead also trained runner-up Balko Des Flos.

Mr de Bromhead took over the reins at his father's Co Waterford yard in 1999 and numbers employed at the horse training enterprise increased from 31 to 33 last year, including 29 engaged in training.

Mr de Bromhead sits on the board of the firm with his wife, Heather de Bromhead. Staff costs for the 33 employees increased from €978,767 to €1.088 million.

In the 2020-21 Irish jump season Mr de Bromhead has recorded 98 wins, earning €2 million for the horses’ owners in prize money. This came in addition to £1.5 million (€1.7m) in prize money for eight wins across the UK in the 2020-21 jump season.

Knockeen Racing Ltd’s cash funds last year increased sharply from €79,007 to €372,778.