Agree RO8 no one expected this announcement. For all intent and purpose the company has been telling us all that everything is rosy and on track this now appears not to be.
To blame softening industry conditions is total b'''sh't. MG has its problems and Fonterra have dropped their price to some suppliers, but many others are paying the same or near to last seasons prices. There is still money for investment in dairying out there. Why can't AYB get any?
The shareholders own the company and certainly have the right to full disclosure as to the facts of what is what, blaming others and outside factors just doesn't wash.
IMO DYOR
Ann: Market Update-AYB.AX, page-9
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