The company that organises the National Ploughing Championships has accumulated more than €12 million in profits, following another bumper year last year.

Accounts for the National Ploughing Association for the year to the end of January 2015, show after-tax profits jumped more than 20 per cent from €978,856 to €1.19 million.

Turnover of €5.1 million

Turnover, which is made up of gate receipts, exhibitors’ fees and sponsorship for the annual event, was €5.1 million for the year to the end of January, up from €4.5 million the previous year.

The majority of the turnover (€4.8 million) came from the Republic of Ireland, with the rest coming from other EU countries.

The event broke records last year, attracting its biggest ever crowd, of more than 279,000 attendees and 1,400 exhibitors.

Under the direction of Anna May McHugh for more than 40 years, the event has seen the National Ploughing Association’s operating profits climb from €867,547 to €944,891. The company had an accumulated surplus of €10.9 million at the beginning of the year. This, together with the most recent profit, brings accumulated profits to €12.1 million.

Wages and pension costs for eight staff members amounted to €461,218 for the year. In addition, directors’ remuneration of €210,075 was also paid.