Rachael Blackmore's racing firm jumps to record profits

Gordon Deegan

The racing firm owned by one of Ireland’s most popular and successful sports stars, Rachael Blackmore last year enjoyed record profits of €367,545.

New accounts filed by the jockey’s Rachael Blackmore Racing Ltd show that the firm’s profits of €367,545 in the 12 months to the end of December 2021 were almost double the profits recorded in 2020.

After recording the €367,545 profit for last year, the Co Carlow firm was sitting on accumulated profits of €650,821 at the end of the year.

The cash pile at the company - only incorporated in 2019 - increased almost threefold last year from €197,946 to €577,135. The amount owed to the firm by debtors during the year increased from €98,582 to €144,919.

Grand National

During the year the Tipperary jockey created history when she became the first female jockey to win the English Grand National in the 182-year history of the race on the Henry de Bromhead trained Minella Times.

The win earned Minella Times owner, JP McManus £375,000 in prize money.

Last year, Blackmore also won the Champion Hurdle on board Honeysuckle at Cheltenham and rode six winners across the four days becoming the first female jockey to scoop the leading Cheltenham jockey trophy.

This year, Blackmore once again won the Champion Hurdle at Cheltenham where the 33-year-old’s partnership with Blackmore continued to flourish as Blackmore piloted A Plus Tard home to win the Gold Cup.

Upcoming star

Separate accounts for Carriganog Racing Ltd operated by another bright star of Irish racing, 29-year-old Joseph O’Brien show that it recorded post tax profits of €419,595 last year.

This followed O'Brien's racehorse training business recording post tax profits of €683,996 in 2020.

The 2021 profit takes account of non-depreciation costs of €92,499.

The firm's accumulated profits at the end of December last year totalled €2.38m.

Mr O’Brien operates his training stables at Piltown, Co Kilkenny and numbers employed at the business last year increased from 145 to 167.

As a jockey, O’Brien has twice won the English Derby and the Irish Derby along with the Ascot Gold Cup while as a young trainer, O’Brien has trained winners in the Melbourne Cup on two occasions and also trained winners for the Irish Derby and the Irish Gold Cup.