With record crowds of 283,000 attending last year’s Ploughing in Tullamore, the National Ploughing Association recorded a profit of €973,602 for the year ended 31 January 2017.
Despite the higher crowds over the three day event, the profit figure was down 18% on 2015. The accounts do not include details of senior management remuneration.
In 2015, turnover at the company was €5m while costs amounted to €4m.
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Profits
Last year’s profits bring accumulated profits to €14.1m – an increase of €3.1m or 29% since 2013. The NPA has over €2m cash in the bank along with €11m in investments which are mainly held as fixed-term deposits along with a smaller amount held in a secure capital fund and €26,000 in prize bonds.
Commenting on the recent results, NPA managing director Anna May McHugh said the cash reserves are required as a rainy-day fund as it costs more than €4m to run what is an outdoor event every year. It is estimated that visitors to the Ploughing spend over €40m over the three-day event. This spending results in a tax take of over €6.6m for the Exchequer.
Almost €10m is spent on food every year at the event.
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With record crowds of 283,000 attending last year’s Ploughing in Tullamore, the National Ploughing Association recorded a profit of €973,602 for the year ended 31 January 2017.
Despite the higher crowds over the three day event, the profit figure was down 18% on 2015. The accounts do not include details of senior management remuneration.
In 2015, turnover at the company was €5m while costs amounted to €4m.
Profits
Last year’s profits bring accumulated profits to €14.1m – an increase of €3.1m or 29% since 2013. The NPA has over €2m cash in the bank along with €11m in investments which are mainly held as fixed-term deposits along with a smaller amount held in a secure capital fund and €26,000 in prize bonds.
Commenting on the recent results, NPA managing director Anna May McHugh said the cash reserves are required as a rainy-day fund as it costs more than €4m to run what is an outdoor event every year. It is estimated that visitors to the Ploughing spend over €40m over the three-day event. This spending results in a tax take of over €6.6m for the Exchequer.
Almost €10m is spent on food every year at the event.
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