LIC reports strong half-year financial performance

Livestock Improvement Corporation (LIC) has reported a strong financial performance for the first half of the 2024-25 financial year.

Total revenue increased by 8% to $185.7 million, while net profit after tax surged by 34.8% to $39.1m.

Underlying earnings were also up 17.4% at $33.7m.

LIC's underlying earnings forecast range at year-end has been revised to $18-22m, a positive change from the market update in July 2024.

The company's half-year result primarily reflects revenues from its core artificial breeding and herd testing services.