· $33.4 million net profit
after tax (NPAT), up 10.4% from $30.3 million.
·
$60.0 million earnings before interest, tax, depreciation
and amortisation (EBITDA), up 2.7%.
· $46.4 million
earnings before interest and tax (EBIT), up 7.6%.
·
Underlying earnings (NPAT excl bull valuation change) range
is forecast to be $19-23 million for year-end, up from
$16-22 million, compared to $22.7 million in
2019-20.
Livestock Improvement Corporation (NZX: LIC)
(
LIC) announces its half-year financial
results for the six months to 30 November 2020, which show
continued strength in the cooperative’s financial
performance with increased revenue and underlying
earnings.
Net profit was up 10.4%, primarily due to a
strong growth in sales of LIC’s premium artificial
SUPPLIED
The utilisation of Genomic Sires, where bulls are selected based on their DNA profile rather than conventional progeny testing, has grown significantly.
Thanks to the foresight of the LIC board and its farmer shareholders, three decades of research and investment focusing on increasing the rate of genetic improvement in New Zealand dairy animals is paying off resulting in markedly increased productivity and health traits for dairy cows, and better returns for dairy farmers. LIC Board Chair Murray King says the investment of more than $78 million over the past 26 years has built substantial genetic wealth for the New Zealand dairy industry.