Livestock Improvement Corp first-half profit drops 22% on cost of transforming business

Wed, 24 Jan 2018

By Paul McBeth Jan. 24 (BusinessDesk) - Livestock Improvement Corp posted a 22 percent slide in first-half profit as the farmer-owned herd genetics cooperative ramped up spending to overhaul its business, which it says is vulnerable to the same disruption other industries face. Net profit fell to $14.9 million, or 51 cents per share, in the six months ended Nov. 30, from $19 million, or 65.3 cents, a year earlier, the Hamilton-based company said in a statement. That included $20.7 million of transformation costs which chair Murray King s...

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