NZ's ArborGen Holdings falls after cutting U.S. earnings guidance

Arborgen Holdings

13/01/2021 01:22

** Shares of ArborGen Holdings Ltd  ARB.NZ  fall as much as
3.4% to NZ$0.619, in their biggest intraday pct loss since Dec.
10, 2020
    ** Co, which is engaged in forestry business, says it now
expects to achieve about 95% of its prior forecast of $40 mln in
sales revenue in the United States for FY21  urn:newsml:reuters.com:*:nNZW8yXD26
    ** Says it has been a difficult year for the entire industry
due to the disruptions caused by COVID-19 and things in the
United States are still evolving 
    ** Stock lost 14.2% last year

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))