Burger King float delayed

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The Independent Online

Diageo, the drinks and food group, yesterday appeared to extend the timetable for the partial float of its Burger King unit, suggesting it may not list the business in the first half of next year as previously announced.

Diageo, the drinks and food group, yesterday appeared to extend the timetable for the partial float of its Burger King unit, suggesting it may not list the business in the first half of next year as previously announced.

The company, which is refocusing on its alcoholic beverages, said only that Miami-based Burger King would be brought to market sometime in 2001. The fast-food chain, which could worth up to £3bn, is still looking for a new chief executive to replace Dennis Malamatinas, who quit last August.

The news came as Diageo unveiled a 2.7 per cent rise in pre-tax profits to £1.81bn in the year to June, on turnover up 4 per cent at £11.87bn. Burger King saw profits rise 6 per cent to £202m.

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