Currency exchange 'affecting earnings'

Currency exchange rates are likely to have a negative effect on the earnings of one major food retailer.

Burger King has reported that it expects unfavourable currency exchange rates to reduce its profits this year.

The company said that earnings per share are expected to be cut by a penny to two cents in the fourth quarter of the financial year.

Despite this, RW Baird analyst David Tarantino, told Reuters that "even with slightly lower estimates" the company is still considered "a good value".

The dollar fell against the euro today (June 8th). At 08:30 BST the currency was trading at €0.836.

Falls were also seen by the dollar against sterling, with $1 buying £0.68 this morning.

Transferring large sums of money through an independent foreign exchange broker could save firms money by offering good rates of currency exchange.

Posted by Chris Barber

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Posted by Chris Barber