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Livestock Improvement Corporation (LIC) briefings
Read that company's published results in release order, newest first.
Livestock Improvement Corporation (LIC)FY26Released 16 July 2026
LIC revenue rose 6.7% but PBT and NPAT each fell over 30%
Revenue growth of 6.7% did not translate into profit, as PBT fell 30.3% and NPAT fell 30.4% amid a sharp second-half reversal.
Published 20 August 2026
Read briefingLivestock Improvement Corporation (LIC)HY26Released 22 January 2026
Revenue up 5.2% but PBT fell 13.5% as segment margins compressed sharply
Broad cost increases across NZ genetics, testing, and farm software compressed margins despite volume-led revenue growth, so the underlying earnings
Published 18 May 2026
Read briefingLivestock Improvement Corporation (LIC)FY25Released 18 July 2025
LIC PBT up 192% to $40.3m as tax rate normalises from 43.9% to 23.9%
The operating recovery is real, but every reported segment showed a lower result and working capital built $37.6m against a 10.4% revenue lift.
Published 18 May 2026
Read briefingLivestock Improvement Corporation (LIC)FY24Released 19 July 2024
PBT down 61.7% and H2 swung to a $21.2m NPAT loss
Operating deterioration plus a sharply higher tax rate left FY24 NPAT at $7.7m, well below the $17–22m underlying earnings guided at the half.
Published 18 May 2026
Read briefingLivestock Improvement Corporation (LIC)HY24Released 24 January 2024
OCF fell 76.4% on a 3.0% revenue dip; 13c dividend funded by UK share sale
The 13.1% PBT decline understates the result: operating cash flow dropped to $3.4m and the special dividend was funded from asset disposal, not
Published 18 May 2026
Read briefingLivestock Improvement Corporation (LIC)FY22Released 21 July 2022
Continuing-ops PBT fell 59.4% as $16.1m divestment gain lifted NPAT 16.6%
A 47.3% dividend lift rests on a one-off automation disposal gain and a lower tax rate as continuing operations earnings dropped sharply.
Published 18 May 2026
Read briefingLivestock Improvement Corporation (LIC)HY22Released 26 January 2022
NPAT up 52.1% on Automation divestment; continuing operations grew just 6.2%
A $15.2m discontinued-operations gain drove the headline jump, while underlying cash generation strengthened independently with OCF up 102.6%.
Published 29 April 2026
Read briefingLivestock Improvement Corporation (LIC)FY20Released 22 July 2021
PBT up 58% on continuing ops, but operating cash flow fell 22%
Continuing-operations revenue grew 3.4% after the farm automation exit, while cash conversion weakened as capex more than doubled to $15.5m.
Published 23 April 2026
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