Australia's Beston Global Food hits record low after downgrading earnings view

Beston Global Food

30/03/2023 03:22

** Shares of Australia's Beston Global Food Co Ltd  BFC.AX 
fall as much as 41% to a record low of A$0.013
    ** Stock on track for worst day ever, if current losses hold
    ** Dairy supplier says downgraded its FY23 EBITDA forecast
to between A$0 and A$2 mln ($1.33 mln) from A$8 mln-A$10 mln
range
    ** Cites unprecedented inflationary cost pressures from
external factors, especially with utilities and insurance
    ** Stock down 4.4% this year, as of last close
    
($1 = 1.4993 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))