Bloodstock sales company Robert J. Goff and Co has announced a pre-tax profit of £1.92 million (€2.44 million) for the year to the end of March 2001, an increase of 81 per cent on the previous year.

After-tax profit of £1.42 million was up 93 per cent. Earnings per share increased by 93 per cent to 2.89p from 1.5p and income rose to almost £7.3 million from £5.8 million in the previous year.

R.J. Goff now plans a major development of its 110-acre site at Kill, Co Kildare. The company has had planning permission for a couple of years for a 120-bed hotel and recently received permission for a conference and exhibition centre. Now BDO Simpson Xavier is doing a feasibility study into investments the firm might make in addition to its core business.

Direct costs for the bloodstock sales business have increased by 33 per cent in the last year, according to chief executive Mr Oliver O'Reilly. "We're looking at, basically, the product we might be able to bring to the market."

Of Goff's major sales during the year, the Orby and Challenge Sales in 2000 broke all records for turnover and average price, with the combined aggregate turnover exceeding £39 million.

The second highest price for a yearling in Goff's history, £2 million, was achieved for Kilcam Stud for a son of Danzig out of Alywow.

Turnover at the November Foal and Breeding Stock sale increased by 31 per cent, with the average price moving forward by 21 per cent.

And in National Hunt, the chairman was delighted with the response of vendors and purchasers to Goff's flagship Land-Rover sale. Goff's France reported a 28 per cent increase in sales from £7.8 million to £10 million.