Bega Cheese Limited
(ASX:BGA) has warned its annual profit will fall from earlier forecasts but has also maintained a positive outlook for the following year.
The dairy company expects to deliver a profit after tax of between $21 million to $24 million in the 2015 financial year, from an earlier range of between $25 million to $28 million.
Bega has attributed the anticipated decline to a weaker than expected recovery in global dairy commodity prices.
The company says it has also been impacted by returns from skim milk powder with current pricing affecting both the value of sales and stock valuations.
Bega Cheese reported a net profit of $6.05 million in the first half of the 2015 financial year.
