Profits almost double at firm behind National Ploughing Championships

The National Ploughing Association of Ireland (NPAI) reported a notable increase in pre-tax profits to €426,883 during the year ending January 2024, despite a 9% decrease in revenue. Success in the ploughing event attracted 244,000 attendees, contributing to strong investment performance. However, the underlying operating loss highlighted challenges in operational efficiency. The NPAI's accumulated profits reached €11.94 million, indicating financial vitality. With plans for a new venue for the upcoming ploughing event, the NPAI remains optimistic about sustaining its success and community support.

The profits of the last two years follow combined losses of €1.25m during the two Covid-19 impacted years of 2021 and 2020.

Ms McHugh said: "The National Ploughing Championships is coming off the back of a massively successful event last September and we are moving to a new venue at Screggan, Tullamore for this year's event on September 16, 17 and 18, which is always exciting for everyone involved."

Read at Irish Independent