Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
BGA has had a run up in share price over the past 6 mths. Following their 1HFY25 report recently, there was ~10% price sell down (off strong prices). Your previous report in Sep 24 said it wasn’t on MM radar. Do you have an updated view? Thanks again Glenn
Hi Glenn,
Bega (BGA) is trading down ~17% from last weeks high, failing to live up to lofty expectations as so many have. However, we believe they delivered a solid result with earnings (Ebitda) up +22%, ahead of a somewhat stale consensus. However, while branded margins have improved to the highest ever, we’re conscious of the improvement in the commodity dairy export prices which have tracked very much in BGA’s favour i.e. 35% above FY24 levels – as we all know commodity prices are cyclical.
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