CORRECT: LIC's FY net profit tumbles on one-offs but revenue reaches record

Thu, 19 Jul 2018

(Fixes year-earlier underlying earnings figure, clarifies one-off costs in 2nd paragraph) By Rebecca Howard July 19 (BusinessDesk) - Livestock Improvement Corp, the dairy herd genetics cooperative, reported a 55 percent drop in full-year net profit on higher restructuring costs but was upbeat about the current year as those costs will no longer be incurred. Net profit for the year to May 31 was $9.3 million versus $20.8 million, the Hamilton-based company said in a statement. Reported earnings before interest and taxation were $14.9 mi...

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