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Irish National Stud Returns To Profit
The Irish National Stud "has reported a small profit for 2011 following 2 years of heavy losses" noted racingpost.com. The stud finished the year €20,000 (A$25,600) in the black after losing €1.1 million (A$1.408m) in 2010 & €4 million (A$5.12m) the year before. It is the 1st recorded profit for 5 years, but INS chief executive John Osborne commented: "Like everyone else in the bloodstock industry, we still have to weather the storm. It has been a slow climb to break even, but it is good to be back in the black & we will see where it takes us from here." Osborne noted one of the reasons for the improved return was the presence on the INS stallion roster of former European Champion 1st Season Sire & Victorian shuttler Invincible Spirit (Green Desert-Rafha, by Kris) "one of the best stallions there is". His Northern Hemisphere service fee was increased in 2011 to €60,000 (A$77,000) from €45,000 (A$58,000).