Livestock Improvement Corporation (LIC)
Company Overview: Livestock Improvement Corporation (LIC) is a farmer-owned cooperative headquartered in Hamilton, New Zealand. The organization is a pivotal entity in the dairy industry, offering genetics, information, and technology solutions to maximize profitability for farmers. LIC is instrumental in driving innovation and sustainability across the dairy supply chain.
Location and Facilities
LIC's head office is located in Hamilton, New Zealand. The company also operates a state-of-the-art bull farm in the Waikato region, showcasing New Zealand's commitment to advanced dairy genetics. Additionally, LIC has several regional facilities strategically placed to serve dairy farming communities efficiently.
Financial Indicators
LIC reported revenues of approximately NZD 257.3 million for the fiscal year ending in 2022. Their profit also saw growth, rising to around NZD 22.3 million, showcasing the cooperative's strong financial health and effective operational strategies. These financial results reflect LIC's robust market positioning and successful implementation of innovative solutions.
Important Company Events
One of the significant recent events for LIC is its role in producing the annual New Zealand Dairy Statistics report alongside DairyNZ. This report is crucial for providing insights into dairy herd sizes, production efficiency, and overall performance of the sector in New Zealand. Another pivotal moment was the successful launch of its updated animal evaluation system, which integrates DNA testing for more precise genetic predictions.
Company Plans
LIC's future plans include further investment in genetic research to boost breeding programs that emphasize sustainability and productivity. The cooperative also aims to enhance digital solutions for dairy farmers, focusing on data-driven decision-making tools. LIC is committed to international expansion by strengthening its presence in emerging markets through strategic partnerships and collaborations.
References
For more detailed insights about LIC's operations and impact on the dairy industry, refer to the official website of Livestock Improvement Corporation and the New Zealand Dairy Statistics report.
Modified: 2025/05/18