Captain, I increased my holding in BGA today, and like you have...

Captain, I increased my holding in BGA today, and like you have been considering buying back into ING.

TillLindemann's comments are (as usual) spot on. At COL and WOW today, I purchased BGA butter, milk and yoghurt. At a larger IGA tomorrow, I may buy other BGA products. The company produces good quality lines that are liked or even loved by millions of Australians, and has a far greater presence on supermarket shelves than two years ago.

'Mud is money' is I believe an old saying in agriculture, so notwithstanding challenges discussed above, BGA will benefit from recent great rains in the dairying areas of NSW and Victoria, and as a side issue, should remain well run.

To put perspective into its announcement today, here's a brief excerpt from 'The Oz':

"Bega Cheese shares have been pummelled after the dairy giant predicted earnings for the 2022 financial year to be well below market estimates.

The company said its normalised earnings before interest, tax, depreciation and amortisation for the financial year ending June 30, 2022 would be in the range of $195m to $215m. That implies a 63 per cent increase compared to its fiscal 2021 earnings of $141.7m.

However, its share price plunged as the midpoint of its forecast range was 7.5 per cent below the consensus estimate of $221.7m, according to Bloomberg..."

I 'get' that we must look at book value, and consider the reasonably recent capital raising, but surely somewhere between a 37 to 63 per cent rise in likely earnings for FY 22 is pretty good going? I take little notice of analysts and like many of us prefer to do my own research.