BGN Entrepreneur

Plant Health Care dropped by 36.8% to 110p after the seed technology company warned of lower-than-expected sales of its Harpin product to Monsanto, the US biotechnology company that is its key customer.
Evolution Securities responded to the news by cutting its 2011 earnings per share forecast from 12.2 cents to just 1.2 cents.
According to the broker, it is said that the weak demand for Monsanto’s genetically modified soyabeans suggests the US group needs to rethink marketing and it will delay Plant’s move into profitability.

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