I don't really care much about profit. Plus I don't breed! Lol. When I start breeding my own horses adn all that when I grow up. I am going to have a breed I love not a breed that is profitable. All breeds are profitable but for their own reasons.
I particularly think Colored warmbloods and those gorgeous double registered Sabino paint TB x's..... But remember, any one can be a breeder - but for a profitable breeding, you should always breed for quality, temperment, conformation, and athleticism. If you don't breed for quality, your horses won't ever be worth much. Plus, you have to breed horses that there are a demanding market for - like QUALITY colored sporthorses..... :) I'd love to breed those!!!
Pridetobe is right, if your making a profit your doing something wrong, sorta. It cost a hell of a lot to do it the right way and will take YEARS to get to the real profit side of things. If your paying top dollar for a horse you want top breeding lines, which you will pay through the teeth for with sires alone. Then you have the massive costs of running the stud. Then top trainers and many many shows for your produce/dams. These are just the beginnings. Anybody that wants to pay a decent amount of money for a horse doesn't want to buy from a backyard breeder.