Update: GAM shares plunge 30% on 2019 profit warning
Reports losses and plans to scrap 2018 dividend
GAM issues profit warning amid 2018 losses
The share price of embattled Swiss asset manager GAM has fallen by 30% after it revealed a drop in its profits before tax for the 2018 financial year and warned 2019 results will also be negatively affected, as it embarks on a major restructuring programme.
GAM has suffered huge share price falls this year as it has been hit by a raft of negative headlines. Its shares are now trading at CHF3.26 on the SIX Swiss Exchange, having fallen by around 80% so far...
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