Livestock Improvement Corporation (LIC) H2 2025 earnings summary

Executive summary

• Achieved a strong full-year profit with a 10.4% revenue increase to $295.1 million compared to last year.

• Net Profit After Tax rose sharply to $30.6 million from $7.7 million year-over-year.

• Declared a fully imputed dividend of 12.22 cents per share, totaling $17.4 million, representing 80% of underlying earnings.

Financial highlights

• Underlying earnings increased 56.9% to $21.7 million from $13.9 million year-over-year.

• Total assets grew 9.3% to $392.0 million.

• Operating cashflows improved by $16.3 million year-over-year.

• No debt at year-end, maintaining a strong balance sheet.

Outlook and guidance

• Underlying earnings for 2025/26 expected in the range of $18–22 million, assuming no major events or milk price changes.

• Multi-year investment planned in customer-facing systems and SaaS tools, with related costs expensed as incurred and excluded from underlying earnings.

• Continued R&D investment, including the next stage of methane research starting in late 2025.