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.