UK-focused firms have struggled since Brexit vote, analysis finds

KPMG finds companies earning profits mostly abroad have benefited since EU referendum

Businesses that earn most of their profits abroad have benefited since the Brexit vote from an inflow of funds from investors at the expense of domestic companies that rely on sales in the UK, according to two separate analyses of the London stock market.

In the two years since the EU referendum, the disparity between the share performances of companies that operate largely inside the UK and ones that repatriate profits from foreign subsidiaries has almost reached a record high, said the accountancy company KPMG.

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