Bega Cheese (ASX:BGA) says fires have had no material overall impact on operations
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.
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Source: Finance News Network
