KEY POINTS:
Livestock Improvement Corporation (LIC) today reported a 14.5 per cent increase in profit before tax for the six months to November 30.
The increase was achieved on a 5.9 per cent increase in operating revenue and chairman Stuart Bay said it was a strong performance.
LIC listed on the stock exchange's alternative market, the NZAX, in April 2004.
Originally a spinoff from the New Zealand Dairy Board, the company provides artificial dairy breeding programmes to farmers, along with herd testing, herd recording and information services.
The board today declared a dividend of 10c per share, up from 9c last year. It expects to confirm the full-year dividend for the 2006/2007 season in July 2007.
"The company is well positioned for future growth with our new chief executive, Mark Dewdney, on board," Mr Bay said.
"Where, five years ago, this company was about providing solutions to the dairy industry, today our footprint is growing with a diverse range of genetic, diagnostic, automation, recording and consultancy services to a growing number of livestock industries."
- NZPA
