Gowrings rap for Diageo

BURGER King franchisee Gowrings warned of losses and a cut in the dividend as it attacked the 'disruption and under-investment' at the fast food chain that preceded its recent £1.4bn sale by Diageo to US venture capitalists.

Gowrings, which runs 43 Burger King restaurants in Britain, said last year's £425,000 first-half profit would turn into a loss this year. and it would cut the interim dividend by a third to 1p. It also completed its exit from selling cars with the sales of two Ford dealerships to Inchcape.