New Zealand's ArborGen Holdings rises on updated annual outlook

Arborgen Holdings

09/04/2024 05:02

** Shares of ArborGen Holdings  ARB.NZ  rise as much as 3.1%
to NZ$0.165, their highest since Feb 13
    ** The commercial global seedling supplier says net debt, as
at March 31, is expected to be 25% to 35% lower than previously
advised, and co now expects this to be between $14.5 mln and
$15.0 mln
    ** Adds adjusted U.S. GAAP earnings before interest, taxes,
depreciation, and amortization is expected to be at the upper
end of forecast provided in November 2023 of $11.6 mln to $12.6
mln
    ** About 40,000 shares change hands, 2x the 30-day avg
volume
    ** Stock down 5% YTD, as of last close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))