BURGER BAR BLAMES BREXIT FOR SHARE SLUMP – IN SOUTH AFRICA!

THE South African owner of an upmarket burger chain blamed Brexit for a 11pc 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 £4.5m 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 10.7pc as a result.