Livestock Improvement Corporation Plans Strategic Review Amid Strong Financial Performance

Highlights:

• Strategic Realignment: Livestock Improvement Corporation Limited (NZX: LIC) is set to review its strategy, last refined in 2021, to address evolving market dynamics under CEO David Chin.
• Strong Financial Performance: At the time of writing, LIC reported an 8% rise in revenue to $185.1 million and a nearly 35% increase in net profit to $39.1 million for the half-year ending November 30, 2024.
• Commitment to Innovation: LIC plans to focus on innovation and advanced solutions for farmers, ensuring long-term growth in the dairy genetics and agri-tech sectors.

Strategy Refresh Underway

Livestock Improvement Corporation Limited (NZX: LIC), a leading cooperative in dairy genetics and agri-tech, has announced a reassessment of its strategic direction. The last major review of its strategy occurred in early 2021, prior to David Chin taking over as CEO. Now, with evolving market dynamics and new opportunities, LIC's board and management aim to refine their roadmap for continued growth and

innovation.

Robust Half-Year Financial Performance

At the time of writing, LIC reported impressive financial results for the six months ending November 30, 2024. Revenue increased by 8% to $185.1 million, while net profit after tax surged nearly 35% to $39.1 million. Underlying earnings also showcased robust growth, reflecting the cooperative’s resilience and strong operational performance.

Focus on Farmers and Innovation

The cooperative remains committed to providing world-class solutions to its farmer shareholders. By realigning its strategy, LIC aims to address emerging challenges, invest in technological advancements, and maintain its leadership in the agri-tech sector. CEO David Chin emphasized the importance of

innovation in supporting the dairy industry and creating long-term value for stakeholders.

Looking Ahead

With this strategy review, LIC seeks to position itself for sustained success in a competitive and evolving industry. Shareholders and stakeholders alike are optimistic that the cooperative’s renewed focus will ensure it remains at the forefront of dairy genetics and agri-tech innovation.

This strategic refresh, coupled with LIC’s strong financial performance, reinforces its commitment to delivering value to New Zealand’s farming community and beyond.

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