Video games retailer Game Digital extended its losing streak with final results which revealed a profit plunge of 81 per cent to £4.9million.

In the 53 weeks to July 30, the high street store saw revenue drop 5.1 per cent to £822.5million as it battled a 'challenging UK console market'.

Shares in the beleaguered business are down 44.6 per cent this year and it said it remained cautious about the year ahead though it was encouraged by the forthcoming line-up of new games, console and virtual reality launches.

Chief executive Martyn Gibbs said: 'We recognise that we need to continue to reposition and transform the business.'

Shares in Game Digital are down 44.6 per cent this year and it said it remained cautious about the year ahead though it was encouraged by forthcoming game and console launches

The firm said it was seeing significant progress from its turnaround plan, which includes cost-saving initiatives and improving supplier terms. It has also been investing in online gaming and events to broaden its revenue stream.

It has launched 'gaming arenas' for customers to come in try games in two stores, with plans for at least another 10 to follow by the end of January, and significant investment over the next three years.

Yesterday was also game over for non-executive director Franck Tuil who has been on the board since May 2014.

Tuil wants to focus more fully on his role as senior portfolio manager at activist investor firm Elliott Advisors. Game shares stumbled 4.3 per cent, or 3p, to 67p.

Shareholders of Arbuthnot Banking Group are set for a bumper payout as it announced a special dividend of £3 a share in its third- quarter trading update.

Arbuthnot said its lending pipeline had shown good growth despite the time between approval and drawdown of loans increasing and added that the fall in the Bank's base rate of interest will hit the margin it makes on its loans in the short term.

STOCK WATCH - SCHOLIUM GROUP Scholium Group is a dealer in fine art and collectables such as rare books. The business said sales in the run-up to the EU referendum were adversely affected but were starting to pick up, particularly from those buying in euros or dollars who are taking advantage of the weaker pound. While the rare books division has picked up, Scholium said its trading business was ‘lumpy’ and performed slightly behind expectations in the first half of the year. Shares dropped 9.2 per cent, or 3.5p to 34.5p.

But the group is accelerating expansion plans with a new site in Manchester to open next year.

Shareholders will pocket a total of £45million from the special dividend, due on November 18. Shares climbed 3.5 per cent, or 54.5p, to 1634.5p.

Intercontinental Hotels Group is set to report a third quarter trading update today.

A special dividend in May and upbeat comments from the group in August sent shares higher – they're up 21.4 per cent year to date.

Analysts at The Share Centre, which has a 'hold' on the stock, said now will be the time to see whether those positive prospects have materialised.

The broker said it was interested in the level of new franchise sign-ups to the brand as well as its progress in the boutique hotels business. Shares closed 0.2 per cent, or 7p, lower at 3238p.

Also set to be announced today is the appointment of a new non-executive director at CloudCall. The Aim-listed telephony services firm will appoint Gary Browning to the board.

He was previously chief executive at recruitment services company Penna Consulting. CloudCall's shares yesterday finished 5.9 per cent, or 4p, lower at 64p.

A short but sweet update from Coats Group sent shares soaring. Peel Hunt raised its target price for the industrial thread manufacturer as it revealed sales had improved in the third quarter of the year.

The group is growing its market share and improving productivity. It now expects operating profit for the year to be ahead of expectations. Shares advanced 8.2 per cent, or 2.75p, to 36.5p.

As the pound made more progress against the euro and dollar the FTSE 100 fell for a second day. The market closed down 0.7 per cent, or 46.27 points, at 6977.74.

Aim-listed Vianet Group provides monitoring systems for leisure and vending firms. Its services include monitoring draft beer pumps to help firms reduce wastage, keep pipes clean and the beer cool.