Brake Brothers shares plunge

Wednesday 23 September 1998 23:02 BST

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SHARES IN Brake Brothers, the market-leading food distributor, plunged yesterday by 15 per cent as the company said that catering was facing a "temporary slowdown".

Over pounds 48m was wiped from the company's value as its chairman, Frank Brake, said he was "cautious, although not pessimistic" about the full year. Shares dropped from 747.5p to 635.5p, in spite of a 27 per cent rise in first-half pre-tax profits to pounds 13.7m.

Investment, page 23

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