Over-50s insurance and holiday firm Saga has seen shares plunge by more than a third after it warned over profits for the coming year amid an overhaul to return to growth.
The group said it is launching a "fundamental" strategy rethink which will see it change tactics in the insurance business to address "increasing challenges" in its markets.
Shares tumbled as much as 40% at one stage as it said this will knock profit margins, which, together with changes to premium renewal prices and investment in new products, will see underlying pre-tax profits slump up to 42% in 2019-20.
It is now pencilling in profits of between £105 million and £120 million for 2019-20.
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The profit alert comes as annual results show Saga slumped to a pre-tax loss of £134.6 million for the year to January 31, down from profits of £180.9 million the previous year.
Lance Batchelor, group chief executive, said: "The fundamental changes we are making are essential to address the long-term challenges facing our business."
Intu, the Braehead owner, has picked a new chief a challenging year for the company.
Matthew Roberts, the chief financial officer, will take the top job at the end of April after the departure of incumbent David Fischel.
Mr Fischel said he would leave last July.
Intu's annual results for 2018 showed it swung to a £1.17 billion loss and property valuations fell.
Retailer Mothercare has revealed UK sales tumbled 8.8 per cent in its fourth quarter and warned that trading conditions are set to remain "challenging".
The babycare chain said the like-for-like sales fall in the three months to March 30 marked an improvement on the previous two quarters, but the result was boosted by clearance promotions from shop closures.
It added that the clearance sales had "significantly" hit online sales.
Shares fell 7% after the figures.
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