Bega Cheese (ASX:BGA) says fires have had no material overall impact on operations

Company News

by Katrina Bullock

Dairy major, Bega Cheese (ASX:BGA) expects to lose around 900,000 litres of milk due to non-collection as a result of the fires.

It estimates that it may see a reduction in milk supply of up to a further one million litres, as suppliers choose to dry their herds off earlier than planned.

No dairy sheds have been lost to the fires, which have affected farm operations and infrastructure including fencing, power lines, paddocks and road access.

Despite this, the company says the fires ravaging Australia have had minimal direct impact on its milk supply and that the milk losses will have no material overall impact on Bega’s operations.

Shares in Bega Cheese (ASX:BGA) closed 3.9 per cent higher at $4.22 yesterday.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.