Jockey Rachael Blackmore’s company enjoys record profits

The racing firm owned by jockey Rachael Blackmore last year enjoyed record profits of €367,545.

Accounts filed by Rachael Blackmore Racing Ltd show that the firm’s profits of €367,545 in the 12 months to the end of last December were almost double the profits of €187,472 recorded in 2020.

The Carlow firm is now 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.

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During the year, the Tipperary rider 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 aboard 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 piloted A Plus Tard home to win the Gold Cup.

Blackmore’s on-course success last year earned her the RTÉ Sports Personality of the Year award and BBC’s Sports Personality World Sports Star of the Year.

Joseph O’Brien

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

O’Brien’s racehorse training business recorded 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 €2.38 million.

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