Shares in Tui have tumbled after the holiday giant cut its earnings forecast as it nurses a hit from last year's "extraordinary hot weather" and the weak pound.

The group said that it expects adjusted earnings for the year ended September 30 to come in flat at around 1.17 billion euros (£1bn).

This compares to previous guidance for at least 10 per cent growth in earnings during the three years to 2020.

Explaining the downgrade, TUI said the out of the ordinary hot weather last summer resulted in later bookings and also hit margins.

Shares crashed on Thursday on the news, diving more than 16% to 986p.

It also cited the "continued weakness of the pound sterling, making it difficult to improve margins on holidays sold to UK customers".

A shift in demand from the western to the eastern Mediterranean created overcapacity in places such as Spain's Canary Islands, the firm added.

"Previously, it was anticipated that these headwinds would impact primarily the first half (winter), however we are seeing from current bookings an additional impact on the second half (summer), and have updated our guidance accordingly," Tui said.

Brexit is also weighing on the industry, with Tui recently saying it remains concerned over flying rights in the event of the UK crashing out of the EU without a deal.

HeraldScotland: Bellway HomesBellway Homes

Housebuilder Bellway has said Brexit uncertainty has "inevitably" taken its toll on consumer confidence, but it still expects to see half-year revenues rise by more than 12 per cent.

The Newcastle-based group said the impact on consumer sentiment was behind a rise in its buyer cancellation rate, at 13% in the six months to January 31, up from 11% a year earlier.

The group has also continued to resort to the use of incentives, particularly on higher value plots, to offset dampened buyer confidence.

But Bellway said it is expecting total revenues to grow by more than 12% to almost £1.5 billion for the half-year.

This was driven by a 5.6% increase in the number of housing completions, which rose to 5,007.

It reported a 6.5% rise in its average selling price to £293,800 over the period.

"This is a robust performance given the ongoing discussions around our forthcoming exit from the EU, which has inevitably had some bearing on customer confidence in the wider economy," said Bellway.

HeraldScotland: Superdry clothing

Superdry has blamed "unseasonably warm weather" for a dip in third quarter sales as the troubled retailer continues to struggle amid a boardroom bust-up.

The fashion chain saw group revenue fall 1.5 per cent to £269.3 million in the 13 weeks to January 26, with store sales tumbling 8.5% and online dropping 0.7%.

Superdry also pointed to "ongoing legacy product issues" in explaining the decline.

Chief executive Euan Sutherland said: "Superdry's performance has remained subdued during quarter three.

"We continued to be impacted by the ongoing product mix and relevance issues we have previously highlighted and by the lack, until the end of quarter three and the start of quarter four, of any prolonged period of cold weather in our key markets."