Burger bar owner blames Brexit for South Africa slump

The South African owner of an upmarket burger chain blamed Brexit for a 11 per cent plunge in its shares yesterday.

Famous Brands, which owns Gourmet Burger Kitchen, repeated a complaint it first made in August that ‘uncertainty surrounding Brexit negotiations’ had contributed to ‘adverse trading conditions’ in the UK.

Despite Gourmet Burger Kitchen posting profits of £4.5million in the year to February, a trading update yesterday said the business swung into a loss of £872,000 in the six months to the end of August.

Shares in the South African parent company, which is listed in Johannesburg, plunged 10.7 per cent as a result.


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