Bega Cheese dumped as baby formula venture sours

 In Australia, NewZealand
The shifting shoals of the Chinese market has caught out Bega Cheese which is forecasting flat earnings in the year ahead while warning it will be forced to make a large provision against its infant formula joint venture with Blackmores.
In response, investors have dumped its shares, which have fallen a heavy 12 per cent to $5.69 in early trading on Tuesday, the low so far. Sydney Morning Herald – Read more…

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