Livestock Improvement Corporation (LIC) H2 2025 earnings summary

Executive summary

• Achieved strong financial performance for the year ended 31 May 2025, with significant growth in revenue and profit.

• Declared a higher dividend of 12.22 cents per share, reflecting 80% of underlying earnings.

• Continued investment in innovation, digital capability, and R&D to support farmer shareholders.

• Maintained a robust balance sheet with no debt at year-end.

Financial highlights

• Revenue rose 10.4% to $295.1m compared to $267.3m last year.

• Net profit after tax (NPAT) increased to $30.6m from $7.7m year-over-year.

• Underlying earnings grew 56.9% to $21.7m from $13.9m.

• Operating cash flow improved to $56.4m from $40.1m.

• R&D expense increased to $22.5m, up 6.3%.

• Total assets reached $392.0m, up 9.3% from $358.6m.

• Dividend payout totaled $17.4m.

Outlook and guidance

• Underlying earnings for 2025-26 expected in the range of $18-22m, assuming no major events.

• Planned multi-year investment in customer-facing systems and SaaS tools, with related costs excluded from underlying earnings but impacting reported NPAT.

• Continued focus on R&D, including methane research in late 2025.