‘Dairy wars’ not over as Bega Cheese positions for battle
NSW-based Bega Cheese has hinted the dairy wars are not over, saying the company is well-positioned for further consolidation and the battle for milk supply as it reported an 18 per cent jump in first half profit to $18.7 million.
The cheese company, which listed on the ASX in 2011, recently lost out to Canadian giant Saputo in the dramatic three-way takeover battle for Victorian dairy group Warrnambool Cheese & Butter.
But Bega said it has reaped $98.9 million, before tax and costs, for its 18.8 per cent stake in WCB and expects to report an after-tax profit of $44 million in its full-year accounts. Sydney Morning Herald – Read more…
The cheese company, which listed on the ASX in 2011, recently lost out to Canadian giant Saputo in the dramatic three-way takeover battle for Victorian dairy group Warrnambool Cheese & Butter.
But Bega said it has reaped $98.9 million, before tax and costs, for its 18.8 per cent stake in WCB and expects to report an after-tax profit of $44 million in its full-year accounts. Sydney Morning Herald – Read more…
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