A Co Meath-based racehorse training company run by trainer Gordon Elliott continues to make a profit last year despite dropping out of the six-month training ban imposed on owners. I continued.
A new account submitted to the corporate office by trainer GElliott Racing Ltd shows that cumulative profits increased by € 17,447 to € 1.45 million in the 12 months to the end of August.
Last year, the company’s 2020 account disclosed that the company had “lost training fees and sponsorship income since March 2021 because directors banned training for six months.”
Last year’s after-tax profit of € 17,447 was well below G Elliott Racing Ltd’s after-tax profit of € 124,391 over the past 12 months.
The 2021 account covers 6 months of Elliott’s training ban.
Emphasizing the continued expansion of Elliott’s training operations last year, Elliott’s workforce has increased from 85 to 87.
The overall wage invoice for the stable business was not disclosed, but the total wages to directors totaled € 96,574.
The horse racing world was shaken last March after a photo of a trainer who won the Hannara and Gold Cup calling a dead horse appeared on social media.
Within days of the old photo, the sponsor broke off his relationship with Elliott and some horses were taken away and sent to a rival trainer.
The Gigginstown Stud partnership with Michael O’Reilly’s Elliott has won two Grand Nationals in Tiger Roll.
In response to the photo, the Irish Horseracing Regulatory Commission (IHRB) suspended the last six months after discovering that Elliott had lost the reputation of the sport and imposed a 12-month ban on Elliott. ..
As part of that sanction, IRHB also imposed € 15,000 on a 44-year-old child.
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The IRHB said the photo shows the trainer’s “horrifying hobby” and “total lack of respect” for the horse.
Elliott returned to training last September after issuing a ban and, reflecting the controversy, said in an interview on the eve of his return: Weeks of very bad social media, newspapers, TV, Twitter and everything else. “
He states: “For me, it was something I had never experienced or never wanted to experience, but it was incredible for the garden family and staff. Probably the next three or four months on my face at Summerhill. Wouldn’t show
“I make mistakes and deserve to be punished. That’s something I don’t want to happen again and I don’t want anyone to do,” he added.