On the Beach Shares Dive on Key Profit Metric Miss, B2B Unit Wind-Down

On the Beach shares hit a near six-month low after the holiday company said it expects to miss market consensus for a key profit metric and that bookings for next summer are reflecting a later booking trend. Shares were down 37 pence, or 14%, at 220.50 pence. They are currently 13% lower over the year to date. The U.K. travel-retail group also said Wednesday that it plans to wind down its loss-making business-to-business unit in order to focus on the higher growth potential business-to-consumer segment. OTB expects to report an...