Hot Tuna brings in Pelham to make a splash with investors

Troubled surfing brand Hot Tuna, which has lost almost all of its share value since it floated over two years ago, has called in new agency backing.

Hot Tuna: surf brand
Hot Tuna: surf brand

Pelham PR replaces Abchurch Communications on the account, which will see the agency advising a firm in a state of flux.

The AIM-listed firm, which replaced its chairman last month, posted operating losses of £1.65m (up £1.56m on the previous year) on Friday, in spite of the fact sales grew from £183,000 to £445,000.

Chairman Ranjit Murugason, who has held the role since Hot Tuna's admission to Aim, stepped down from the last month. He was replaced by the former owner and the executive chairman of African investment company Lonrho, David Lenigas.

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