LIC reports solid half-year results despite economic challenges

Livestock Improvement Corporation (LIC) has reported a solid half-year financial result, despite challenging economic conditions.

Total revenue from continuing operations for the six months to Nov 30 2023, was down 3% to $171.9 million.

Net profit after tax from continuing operations also saw a decline of 13% from the same period last year, reaching $29m.

LIC's underlying earnings forecast range at year-end remains unchanged at $17-22m.

The company noted that the half-year result does not fully reflect the proportion of total costs and may not be indicative of the second half or full-year result.

LIC's half-year result primarily includes revenues from artificial breeding and herd testing services.