Body Shop is blaming a rash of unsuccessful product launches for a 21% dive in pre-tax profits.

Body Shop's warning that profits will fall by up to 15% has led to more than £51 million being wiped off its £234.8 million market value.

Body Shop International is blaming the weather, transport difficulties and poor sales of some new lines for a disappointing Christmas and warns its profits will fall by between 10% and 15% this year.