January 28, 2020 / 12:01 AM / 22 days ago

UPDATE 1-Australia's Bingo says part of probe into building and demolition waste sector

(Adds ACCC comment, FY20 forecast)

Jan 28 (Reuters) - Australia’s Bingo Industries said on Tuesday it was part of an investigation into the building and demolition waste sector in New South Wales by the country’s competition regulator.

The waste management firm said the Australian Competition and Consumer Commission (ACCC) was investigating price adjustments in the sector implemented in July last year.

The company said it was one of a number of parties involved in the investigation and that it would co-operate with the ACCC.

A spokeswoman for ACCC confirmed the investigation, but declined to provide any further information at this stage, or detail who the other parties are.

Bingo also reaffirmed its underlying core earnings guidance in the range of A$159 million to A$164 million ($109 million to $112 million) for fiscal 2020.

$1 = 1.4622 Australian dollars Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Sriraj Kalluvila and Lincoln Feast.

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