Murray Goulburn has continued to draw flak since last week's hefty profit and milk price downgrade and the resignation of both its managing director and chief financial officer.
The profit projections made at the company’s float last year, which saw it raise $500 million to fund future expansion into nutritional powders, dairy beverages and cheese, are at the heart of the commentary.
"The Murray Goulburn promise was always sour, it was just that some people were yet to twig to it," said Financial Review columnist Joe Aston wrote.
In supplier briefings this week, MG's chairman Philip Tracy apologised to its milk suppliers, and said that MG remained committed to its strategy of “creating a first choice dairy foods company”.
Tracy said the immediate priorities of the board included listening to its milk suppliers and providing clear communication on how they are impacted, and on supporting and regaining their trust.
He said MG would commence an international search for new managing director, and that it remained committed that the “strategy of shifting from commodity products to value added dairy products is the right one”.
