UK: Burgers burn at Diageo
Food and drink giant Diageo looks set to report a 10% rise in pre-tax profits this week but trading figures for its fast food chain, Burger King, are expected to be weak. Forecasts show about a 3% profit growth, but like-for-like trading could be down by 2%. Burger King is expected to make an initial public offering of the first 20% of the business in the second half of the year, but is currently lacking a chief executive. Diageo's Pillsbury unit is expected to have traded well before its departure to General Mills.
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