Australia Markets closed

Freedom Foods gives a bushfire update, how will the share price respond?

Motley Fool Staff
Celebrate Happy

The Freedom Foods Group Ltd (ASX: FNP) share price will be on watch tomorrow after the company provided a bushfires update after the market had closed. 

Freedom Foods confirmed that none of its dairy farms or site operations have been directly affected by the recent Victorian and New South Wales bushfires. 

The company said that all its sites continue to remain fully operational and that the company’s milk supply remains in a “strong position”. 

Further, management said that there were no interruptions to daily deliveries. The company is working closely with its farmers to ensure they are supported and that the supply remains unaffected. 

Australian Fresh Milk Holdings (AFMH) operations have also been unaffected by the bushfires. Freedom Foods owns 10% of AFMH, which is the largest producer of dairy milk in Australia. 

Freedom Foods said that it’s working closely with key retailers by increasing, when required, supply of UHT dairy beverages to help minimise the impact of any fresh milk shortage. 

Finally, the company said it had donated to bushfire affected communities in NSW, Victoria and SA via its partner Foodbank. 

The post Freedom Foods gives a bushfire update, how will the share price respond? appeared first on Motley Fool Australia.

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The Motley Fool Australia has recommended Freedom Foods Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020