Livestock Improvement Corporation (NZX: LIC) has reported a net profit after tax (NPAT) of $27.4 million for the year ended 31 May 2023, a 2.4% increase from the previous year.

Total revenue from continuing operations (excl automation) was $276.5 million, a 5.1% increase from the previous year.

Underlying Earnings were $23.7 million, a 7.6% decrease from the previous year.

The company also reported a strong balance sheet with no debt at year end and a dividend of 16.38 cents per share.

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