Goldcrop, the seed, agri chemical, animal feed and hardware supplier based in Cork, saw pre-tax profits almost double last year to reach €813,255 for its 2017 financial year. Boosted by the acquisition of the Croplink Ireland business in late 2016, operating profits at Goldcrop soared by 74% last year close to €1.2m, as profit margins expanded from 1.4% in 2016 to 2.2% last year.

Sales for the year also saw double digit growth, increasing 15% year on year to reach €52.6m. During 2017, Goldcrop paid an interim dividend of just under €127,000 to its subsidiary business. The company paid out no dividends the previous year.

Goldcrop was set up by Michael Murphy in 1984 after a management buyout of the agri division of Sutton’s Ltd. The company is now run by managing director John Murphy and has grown through acquisitions over the years. In 2007, Goldcrop acquired Power Seeds from Origin Enterprises before buying Croplink Ireland in 2016. Croplink was established by Jim Droney in 2001 and supplies crop protection products to the industry, generating revenues between €9m and €12m.