Grand Parade loses appetite for Burger King

Grant

Grant

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Grand Parade Investments (GPI) Ltd, which holds the Burger King franchise in South Africa, said on Wednesday it was in talks to sell a stake in the business, without giving a reason.

Shares in GPI fell 6.84% to 3.54 rand at 0920 GMT, their lowest level in almost three-weeks.
GPI signed a long-term master franchise agreement with Burger King in 2012, betting on South Africa’s lucrative fast-food market, consumer appetite for flame-grilled burgers as well as their price appeal.
The Whopper Burger maker, which launched its first restaurant in Cape Town, South Africa in 2013, competes directly with market leader McDonald’s Corp and other restaurant chains such as RocoMamas.
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ewn.co.za

Grand Parade loses appetite for Burger King

Shares in GPI fell 6.84% to 3.54 rand at 0920 GMT, their lowest level in almost three-weeks.
ewn.co.za ewn.co.za
 
Supervan II

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Preparing pork products on the same grill/in the same kitchen as anything else make it non-halaal/non-kosher. Perhaps their sales took a dive because Muslims/Jews stopped buying? (not that I've ever bought anything there, ever)
 
Lupus

Lupus

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Supervan II said:
Preparing pork products on the same grill/in the same kitchen as anything else make it non-halaal/non-kosher. Perhaps their sales took a dive because Muslims/Jews stopped buying? (not that I've ever bought anything there, ever)
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Actually the opposite, they introduced bacon and for the first time they start turning a profit
https://businesstech.co.za/news/business/342329/burger-king-is-now-turning-a-profit-in-south-africa/
So not sure why GPI says they've lost when just short of a month ago they were claiming better profits?
 
Pitbull

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Suspect99 said:
They did
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And already those shops are packed!

Guess too little too late.
They should have listened to the people from the start. McDonalds got away with it because people didn't give an arse about Halal. Different story now and businesses are feeling it.
 
Lupus

Lupus

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Pitbull said:
And already those shops are packed!

Guess too little too late.
They should have listened to the people from the start. McDonalds got away with it because people didn't give an arse about Halal. Different story now and businesses are feeling it.
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The article seems to be quoting old figures, as newer ones show profits are up since the intro of bacon ;-). We also had one open up close to my place and it's got a drive thru which was something missing from a lot of BKs.
 
Suspect99

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Pitbull said:
And already those shops are packed!

Guess too little too late.
They should have listened to the people from the start. McDonalds got away with it because people didn't give an arse about Halal. Different story now and businesses are feeling it.
Click to expand...
I thought the bacon was going to save everything. Guess not
 
Lupus

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I really don't get this article?
Last Week (27 Nov 19):
380c
Week's Volume:
1918757
Week's Value:
R7235400.00
Week's Move:
-15c (-3.95%)
Week's High:
380c
Week's Low:
354c
Last Month (4 Nov 19):
325c
Month's Volume:
4034570
Month's Value:
Rm14.68
Month's Move:
40c (12.31%)
Month's High:
380c
Month's Low:
311c

This is GPI share price for the last month or so. It's gone up, yes it had a dip but it recovered.
 
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