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1.Market Observations, 8.Was Sticky

3 Aug 2019 (AFR) – Bega Cheese slices profit outlook as drought hits

(3 August 2019, AFR, p26, Simon Evans, Senior Reporter)

‘Bega Cheese has downgraded profits by between 8 and 10 per cent because of fierce competitive pressure from rival milk processors in an overall milk supply market that has contracted because of drought. Bega Cheese, which diversified with the purchase of the famous Vegemite brand and other products for $460 million in 2017,  said it was taking a short-term hit to profits as it built its business for the long term in a tough dairy sector.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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