LIC reports strong half-year financial performance

Livestock Improvement Corporation (LIC) has reported a strong financial performance for the half-year ended November 30, 2024.

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

Underlying earnings also rose by 17.4% to $33.7m.

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

However, the company cautioned that the half-year result is not indicative of the second half or full-year result, as it incorporates the majority of revenues from core artificial breeding and herd testing services but not a similar proportion of total costs.