Horseware Ireland records double-digit growth as expansion continues
The Dublin-based equestrian accessories firm recorded pre-tax profits of almost €4.2 million in 2022, up almost 60 per cent on the previous year
Horseware Ireland, the Dublin-headquartered equestrian accessories company, recorded double-digit profit and sales growth last year as it continues a rapid expansion following a private equity takeover.
The company, which specialises in products such as rugs, covers, blankets and other accessories for horses, is majority controlled by Lonsdale Capital Partners, after the London-based private equity group paid just over €47 million to acquire a 70 per cent stake in the company in early 2021.
Newly filed accounts for the business show Horseware Ireland recorded pre-tax profits of just under €4.2 million in 2022, which was up almost 60 per cent on the previous financial year. Operating profits in the business surged 45 per cent to €4.7 million, as profit margins widened to a healthy 8.1 per cent.
