Shares in Regent Inns fell 12.8% to 37.5p this week in response to Thursday’s trading update. The pub operator said it would halve its final dividend in response to tough trading conditions. The news follows its profits warning three months ago after promotions at its Australian-themed Walkabout bars failed to stem falling sales. Regent also said it would take a non-cash exceptional charge for badly-performing venues. Financial Times 17/07/04 page M21 (Stars & Dogs, Money & Business) The Daily Telegraph 17/07/04 page 33 (The Market, Business)