Committee Reports::Report No. 01 - Irish National Stud Company, Limited::13 March, 1990::Appendix


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Committee Reports > List of Committees > Joint > 1990 > Committee on Commercial State-Sponsored Bodies (6th Committee) > Report No. 01 - Irish National Stud Company, Limited

APPENDIX C

IRISH NATIONAL STUD: SELECTED FINANCIAL STATISTICS 1979 - 1988

	TABLE C.1 IRISH NATIONAL STUD: SUMMARY PROFIT AND LOSS 1979-88 (#000s)
	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988
Turnover	1311	1585	1696	2128	2881	2181	2164	2327	8077	1772
Turnover * (Excluding sales of stallions)	916	1585	1671	1502	1959	2181	2164	2327	2268	1742
Net Profit before Tax	85	391	160	-121	394	472	354	-18	135	-429
Taxation	0	0	0	7	0	0	3	18	0	0
Net Profit After Tax	85	391	160	-128	394	472	351	-36	135	-429
Dividends to Exchequer	0	0	0	0	0	75	32	0	0	0

	TABLE C.2 IRISH NATIONAL STUD: TURNOVER BY ATIVITY 1979-88

	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988
Farm	135	318	553	318	575	829	396	620	500	601
Bloodstock Trading	97	374	106	159	352	76	119	333	194	59
Stallion Fees	516	666	691	689	685	894	1277	1066	1219	760
Keep of Mares	141	183	257	258	255	261	260	223	260	220
Stud Farm	754	1223	1054	1106	1292	1231	1656	1622	1673	1039
Gardens & Museum	27	44	64	79	93	121	111	84	94	102
Sale of Stallions	395		25	626	922				5809	30
	1311	1585	1696	2129	2882	2181	2163	2326	8076	1772

	TABLE C.3 IRISH NATIONAL STUD: PROFITS BY ACTIVITY 1981-88
	1981	1982	1983	1984	1985	1986	1987	1988
Farm	83	-56	17	99	-100	20	9	50
Stud Farm	182	155	550	468	568	145	203	-304
Gardens & Museum	3	-31	-13	1	-13	-34	-11	30
Racing	-9	-7	-6	-7	-3	-31	-17	-20
Interest and Rents	29	14	11	64	73	60	145	9
	288	75	559	625	525	160	329	-235
	-37	312	572	0	94	452	5327	-477

	TABLE C.4 IRISH NATIONAL STUD: SUMMARY BALANCE SHEET 1979-88 (#0005)
	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988
Capital Employed
Exchequer Capital	3035	3325	3425	3425	3425	3425	3425	3425	3425	3425
Reserves	300	687	809	992	1883	2318	2762	3178	8648	7741
Deferred Purchase Finance	0	0	0	0	0	0	0	797	0	0
	3335	4012	4234	4417	5308	5743	6187	7400	12073	11166
Represented by
Fixed Assets	962	1123	1323	1542	1488	1468	1413	1385	1917	1935
Current Assets
Bloodstock	1789	1877	1955	2060	2422	2517	2273	4259	6358	7968
Other	681	1213	1134	1110	1972	2161	2954	2979	5913	1683
Less
Current Liabilities	97	201	178	295	574	402	452	1222	2115	420
	3335	4012	4234	4417	5308	5744	6188	7401	12073	11166

	TABLE C.5 IRISH NATIONAL STUD: SOURCES AND APPLICATIONS OF FUNDS 1981-88 (#0005)
	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988
Sources
Funds from Operations			228	-53	461	527	418	22	214	-359
Movements in Reserves			-37	312	572	0	94	452	5327	-477
Sales of Fixed Assets			1	15	15	23	0	14	1	7
Deferred Purchase Finance								797
	0	0	192	274	1048	550	512	1285	5542	-829
Applications
Purchase of Fixed Assets			270	308	28	59	16	44	605	94
Dividends						75	32
Deferred Purchase Finance									797
Movements in:
Bloodstock			78	105	362	95	-244	1986	2176	1640
Working Capital			-156	-141	658	321	708	-745	1964	-2563
	0	0	192	272	1048	550	512	1285	5542	-629

	TABLE C.6 IRISH NATIONAL STUD: RATIO ANALYSIS 1979-88
	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988
Profitability
Profit Before Tax as % Turnover	9.3	24.7	9.6	-8.1	20.1	21.6	16.4	-0.8	6.0	-24.6
(Excluding profits and sales of stallions)
Profit Before Tax as % Capital	2.5	9.7	3.8	-2.7	7.4	8.2	5.7	-0.2	1.1	-3.8
Employed
(Excluding profits of stallions)
Profit Before Tax as % Capital	1.1	9.7	2.9	4.3	18.2	8.2	7.2	5.9	45.2	-8.1
Employed
(Including profits of stallions)
Liquidity
Current Assets*/Current Liabilities	7.02	6.03	6.37	3.76	3.44	5.38	6.54	2.44	2.80	4.01
*Excluding bloodstock
Solvency
Debt*/Equity %	0.0	0.0	0.0	0.0	0.0	0.0	0.0	12.1	0.0	0.0
Counting deferred purchase as debt

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