Livestock Improvement first-half profit drops 46% as farmers spend less

Wed, 10 Feb 2016

By Edwin Mitson Feb. 10 (BusinessDesk) - Livestock Improvement Corp, the farmer-owned cooperative that focuses on herd genetics, farm software and automation, says profits slumped 46 percent, due to the lower dairy payout and reduced farmer spending. The NZAX-listed company had already warned about its performance last October and chairman Murray King is now more downbeat about the full-year results, saying he expects them to be closer to a break even position, after signalling in October that it would still exceed last year's figures....

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