STOCK WATCH

UP Global Sourcing plunged as it revealed revenue had dropped to £48.4m from £68.1m in the first half of its financial year.

The firm, which manages a range of value-focused consumer goods brands, said the retail market was challenging and it had seen caution in orders placed by customers.

It added the first half had been ‘unusually strong’ and warned full-year earnings would be below expectations.

Shares plummeted 47.5pc, or 29p, to 32p.