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Bega Cheese Limited ( (AU:BGA) ) has shared an update.
Bega Cheese Limited has announced the phased shutdown of its peanut processing business, Peanut Company of Australia Pty Ltd (PCA), following a strategic review. Despite efforts to invest in PCA and support local growers, sustained financial losses and industry challenges, such as increased competition from imports and high input costs, have led to this decision. The closure will cease PCA’s annual operating losses of $5-10 million, although one-off shutdown costs are expected. Bega Group plans to support affected employees and growers during this transition, while maintaining its operations in other parts of Queensland.
The most recent analyst rating on (AU:BGA) stock is a Buy with a A$5.90 price target. To see the full list of analyst forecasts on Bega Cheese Limited stock, see the AU:BGA Stock Forecast page.
More about Bega Cheese Limited
Bega Cheese Limited is a prominent player in the dairy and food industry, known for its production and distribution of cheese and other dairy products. The company has a significant presence in Queensland, Australia, with processing facilities and a distribution network.
Average Trading Volume: 634,219
Technical Sentiment Signal: Buy
Current Market Cap: A$1.65B
For an in-depth examination of BGA stock, go to TipRanks’ Overview page.