LIC lifts first-half profit 7.3 percent as dairy farmers ramp up investment

LIC lifts first-half profit 7.3 percent  as dairy farmers ramp up investment
Feb. 13 (BusinessDesk) - Livestock Improvement Corp, which compensated some farmers for selling bull semen that caused 'hairy calf' mutations, increased first-half profit 7.3 percent as dairy farmers raised their herd investment, even as farmgate prices fell. Net profit rose to $30 million, or $1.017 a share, in the six months ended Nov. 30, from $28 million, or 94.7 cents, a year earlier, the Hamilton-based company said in a statement. Sales rose 9.6 percent to $131.5 million, though LIC typically gets most of its revenue in the first half...