The insurance and cruises group for the over-50s has over the years been the butt of a thousand jokes, usually involving stairlifts and elasticated trousers. The joshers who poke fun at it in their thirties quite often become loyal customers a couple of decades later. But for the most recent generation of shareholders, it hasn’t been such an enjoyable voyage. The shares hit a new low last week of 33p after the chief executive Lance Batchelor announced plans to walk the plank. There have been profit warnings, tactical U-turns and a slashed dividend along the way.
Source: The Times June 24, 2019 16:07 UTC