Australia's Farm Pride Foods sees worst day in 8-1/2 years on bird flu outbreak at egg farm

Farm Pride Foods

10/08/2020 02:54

** Shares of Farm Pride Foods  FRM.AX  fall as much as 33.3%
to A$0.2, marking their biggest intraday percentage loss in
since Feb 2012
    ** Poultry and egg farm operator says government body
confirms outbreak of H7N7 avian flu at co's Lethbridge
free-range egg farm in Victoria  urn:newsml:reuters.com:*:nFWN2F91IO
    ** Co says farm will be "depopulated" as soon as possible
    ** Says it will lose about 30% of its productive hen flock
    ** FRM expects hit to FY21 net revenue of between A$18 mln
and A$23 mln ($12.90 mln-$16.48 mln) from the loss of hens
    ** Stocks hits lowest since March 17
    ** As of last close, stock had fallen 22.1% this year


($1 = 1.3957 Australian dollars)

 (Reporting by Arpit Nayak in Bengaluru)
 ((Arpit.Nayak@thomsonreuters.com; +91  80 6182 3472;))