LIC lifts half-year revenue on strong demand for dairy genetics
Herd improvement company LIC has posted a 5.2% lift in half-year revenue, thanks to increasing demand for genetics.
"Over the weekend we tried one last time to get to a solution. I now fear this is heading towards the Commerce Commission and possibly the courts," says Willy Leferink, Federated Farmers Dairy chairperson.
"The shame is that this hairy mutation is so rare, a farmer is more likely to win Lotto's first division than to encounter it again. This rarity is why we felt Livestock Improvement Corporation (LIC) ought to get on the front foot and actively build its customer relations.
"We hoped LIC would have run their commercial ruler over this issue, bearing in mind how low the odds are of a repeat.
"I guess it comes down to LIC shareholders either ringing directors to give them an ear-full or to lend them their support.
"Likewise, for affected farmers, they could club together in order to pursue some form of remedy if that is their wish.
"As this could now become a commercial dispute, Federated Farmers has to step back until this these processes are complete.
"Federated Farmers does a lot of work behind the scenes in order to resolve matters before they publically break; this issue has sadly been anything but. A dose of pragmatism would have avoided much public acrimony.
"Federated Farmers is however ready to mediate for a solution that works for those affected by this mutation and for LIC's wider shareholding base."
