Half-Year Result 2024-25

Half-Year Result 2024-25

Livestock Improvement Corporation’s (LIC) is pleased to present its half-year financial result for the six months to 30 November 2024.

Summary of financials*: 
• Total Revenue: up 8.0% at $185.7 million  
• Net Profit After Tax (NPAT): $39.1 million, up 34.8% from the same period last year 
• Underlying Earnings: $33.7m, up 17.4% from the same period last year 
• Underlying Earnings forecast range at year-end: $18-22 million, a positive change from the market update in July 2024. 

*Notes to financial information:  

• LIC’s half-year result incorporates the majority of revenues from core artificial breeding (AB) and herd testing services, but not a similar proportion of total costs so are not indicative of the second half, nor the full year, result.  
• These numbers should be read in conjunction with the financial details in the Interim Report and 2024 Annual Report.  
• Figures have not been audited, with the exception of 31 May 2024 comparatives.  
• Underlying Earnings: this is NPAT excluding bull valuation and nil paid share valuation movements and is considered useful to investors as it is the basis on which LIC has historically reported and determination of dividends. Non-GAAP financial information does not have a standardised meaning prescribed by GAAP and therefore may not be comparable to similar financial information presented by other entities.  
• Bull team valuation: LIC’s elite bull team is its largest biological asset, valued at $96.4 million at half-year. This valuation comprises a model that looks at future revenue streams and costs associated with the current bulls owned, discounted back to current value.  The interim report includes a non-cash revaluation of the bull team. 

Please view downloads for more information.

Contact:
• Shareholder enquiries: [email protected] or phone 0800 542 742
• Media enquiries: Steph Slattery, Communications and Brand Engagement Manager, [email protected] 027 256 2057

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Announcement PDF