Bega Ann, page-3

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BGA Announcement

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ASX ANNOUNCEMENT
Response to Bellamy’s Announcement
21 December 2016
For further information please contact
Barry Irvin
Executive Chairman
Bega Cheese Limited
ABN 81 008 358 503
www.begacheese.com.au
02 6491 7720
Bega Cheese Ltd (ASX: BGA) today issued the following reaction to Bellamy’s ASX
announcement this morning requesting an extension to their suspension.
Bega Cheese is a key supplier to Bellamy’s (ASX: BAL) and has been and continues to discuss
supply arrangements and volume forecasts with them.
Bega Cheese supplies infant formula to a number of customers with product destined for
both Australian and international markets.
There continues to be strong consumer demand for infant formula in China and in other Asian
markets. Moreover, as a sub category the consumer demand for organic infant formula
which Bega Cheese produces is also strong.
Bega Cheese Chairman Mr. Barry Irvin said “at our AGM and in our ASX release on 25 October
I spoke about regulation change in China, a global supplier response to demand, the
evolution of supplier channels to market, which now sees significant price discounting and
signs of short term oversupply of infant formula and growing up milk powders”.
Mr. Barry Irvin said “Whilst infant formula is important to us, Bega is a large multi-product
dairy company with a strong ongoing profitable business in multiple categories”. He went
on to say “The guidance l gave on earnings at the Bega Cheese AGM is still our position”.
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