IMPSHIRE Thoroughbreds made profits of £730,000 after tax last year, compared to a loss of almost £27,000 in 1994, according to results published yesterday. The company attributed the dramatic turnaround in performance to "timely disposals" of a significant portion of the investment portfolio which resulted in an increase in cash deposits of £1.52 million.

The figures show that pre tax profits rose from a loss of £26,895 in 1994 to £729,817 last year. Operating profits were £705,000 compared to a loss of £32,253 in 1994.

The bloodstock operations again lost money. However, Impshire chairman, Mr Bryan Benitz, said in a statement that the group anticipates a gradual change for the better and has bought majority interests in two mares last autumn, currently valued at £75,000.

Earnings per share were 16.66p compared to 0.71p in 1994.