Galway family's agricultural company sees profits surge to €500,000
The thriving business was started by a Tuam family in 1985 and has since grown to become one of the market leaders in Ireland
Accumulated profits at a Tuam-based agricultural supply company exceeded €500,000 last year, according to its latest accounts.
Cormac Tagging Limited has emerged as one of the country’s largest animal tag providers, supplying more than one million identification tags for cattle, sheep, pigs and goats each year.
Accounts filed to the Companies Office show that the firm’s accumulated profits had surged by nearly 50% to €502,636 by the end of June 2025, while cash reserves stood at €211,960.
The company paid a dividend of €113,308 to its shareholders, which represented a reduction on the €504,101 dividend windfall distributed during the previous financial year.
Cormac Tagging Limited is owned by Ursula Gormley and her holding company, Lenauro Holding Limited. The 50-year-old is listed as a director of the firm alongside Sinead Leahy.
The business was started by Ms Gormley’s parents, TJ and Kitty, who began as sheep farmers but began manufacturing equipment to reduce the workload for Irish farmers in 1985.
They opened a retail store for sheep farming equipment and other agricultural products in 1993. Cormac Tagging was established as a standalone tag provider for sheep, pegs and goats in 2006.
Ursula Gormley worked as an accountant before becoming the director of operations, and oversaw the company’s foray into the cattle-tag market in 2016, which heralded a major expansion of the business.
The latest financial accounts show that the firm employed 33 people last year, paying wages and salaries of €655,965. The directors were paid €108,500, along with pension contributions of €62,600.
The company’s cash reserves were reduced from €407,628 to €211,960 during the 12-month period as it invested heavily in property and machinery, holding tangible assets valued at €462,596 by the end of the financial year.
The firm reported an annual profit of €278,796 for the 12 months to the end of June 2025, down from €367,832 for the previous financial year.
It owed just over €1 million to short-term creditors, which included €637,582 to trade creditors, €143,662 to credit institutions, and €239,916 related to taxation. Long-term liabilities fell to €124,759 from €182,385 during the year.
It was owed €67,299 by debtors at the end of the accounting period.