Livestock Improvement Corporation (LIC) presentation summary

Strategic focus and commitments

• Emphasis on delivering value for farmer shareholders through operational excellence, genetic improvement, and software reliability.

• Commitment to innovation, data modernization, and environmental sustainability.

• Focus on understanding and meeting current and future farmer needs.

Operational and performance highlights

• Achieved high service levels in herd testing, artificial breeding, and disease testing, with most KPIs above 98%.

• Significant reduction in negative feedback and improved customer call response times.

• Software systems (MINDA) maintained 99.9% availability and timely event processing.

Financial performance

• Total revenue was $267.3m, down 3.3% from the previous year.

• Net profit after tax dropped to $7.7m, a 71.7% decrease year-on-year.

• Underlying earnings fell 41.6% to $13.9m, impacted by lower farmer spending, semen quality issues, and tax changes.

• Total dividends paid were $26.8m, including an $18.5m special dividend.