October 28, 2019 / 9:57 PM / 18 days ago

Australia's Bega Cheese flags weaker 2020 earnings

Oct 29 (Reuters) - Dairy goods maker Bega Cheese ltd on Tuesday forecast weaker earnings for fiscal 2020, citing competitive milk supply conditions brought about by a prolonged drought in Australia.

Normalized core earnings for 2020 are expected in the range of A$95 million to A$105 million ($65 million to $71.8 million), compared with A$115 million in fiscal 2019, the company said in a statement.

The company also flagged an increase in its Southern Region milk price to combat competition, which will impact its 2020 earnings. ($1 = 1.4626 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below