Hot Tuna exits US

Shares in surfwear brand Hot Tuna tumbled 10% as it warned revenue has not met forecasts and cashflows are not expected to support the business through 2012 as it winds down business in the US.

Shares in surfwear brand Hot Tuna tumbled 10% as it warned revenue has not met forecasts and cashflows are not expected to support the business through 2012 as it winds down business in the US.

The group said overall trading for the year end June had been disappointing as sales deteriorated across all of its geographic regions, particularly in the US.

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