Bega Cheese Limited (BGA) is engaged in the processing, manufacturing and distribution of dairy and associated products to both Australian and international markets. Its products include natural cheese, processed cheese, powders and butter, packages cheese, cream cheese, powders and nutritionals.
Bega Cheese (ASX:BGA) has increased its dividend for the year ending June, following a rise in sales, profits, and a reduction in debt. This positive outcome comes despite the ongoing challenges faced by many companies over the past year.
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It appears to be another year of forbearance for shareholders in Australia's aspiring food giant, Bega Cheese Ltd. During Tuesday's annual meeting, shareholders were advised not to anticipate significant earnings growth in the 2023-2024 financial year.
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Bega Group (ASX: BGA) has issued a warning that escalating dairy prices could result in a substantial non-cash impairment of up to $180m.
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Shares in Bega Cheese swallowed what would normally be bad news about big cost increases quite well in the wake of the company’s AGM on Wednesday.
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Shares in Bega Cheese took a whacking on Thursday, falling to levels not seen for more than 8 years after the company released its second weak trading update in two months.
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Neutral maintained. Target is reduced to $4.75 from $5.40.
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Covid continues to bedevil the businesses of Bega Cheese in Australia and its key Asian markets, according to yesterday’s update from the country’s largest locally-owned food group.
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Bigger issues dominated the investment mindset on Thursday as the market took a big dive, rendering virtually moot the reactions to earnings reports from Bega and Blackmores.
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The target price falls to $6.35 from $6.80. The Add rating is unchanged.
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Bega Cheese and Kraft Heinz have finally finished their stoush over peanut butter with the Australian company getting a payout of $9.5 million to cover its costs of the litigation.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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