23rd May 2016 14:49
LONDON (Alliance News) - Taihua PLC on Monday said the volume of its forsythia harvest will be reduced in 2016 after its plantation was hit by adverse weather conditions last week.
The pharmaceutical ingredients and traditional Chinese medicines producer said its forsythia plantation experienced snow in the Qingling Mountain, where the plantation is based.
"At this stage, it is too early to determine the actual impact on the 2016 forsythia harvest but it is anticipated that, as a consequence of the snow and the associated frost, the volume of the forsythia harvest will be reduced. Further updates will be provided in due course when the full impact is known," Taihua said in a statement.
Shares in Taihua were trading up 22% at 2.44 pence on Monday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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