Many of Britain’s 150 most valuable brands have suffered because of the devaluation of the pound in the wake of the Brexit vote.

Of particular concern is that the loss in value puts brands at risk of foreign takeover. Unilever and Burberry have both recently had to defend themselves from US companies.

David Haigh, CEO of Brand Finance, said: “While the impact of Brexit on the broader economy has not lived up to the doomsday scenarios, British brands are clearly vulnerable to takeover by foreign firms.

“At one level, this is testament to Britain’s strength at developing and managing desirable brand assets. However, more should be done to ensure Britain gets its fair share of the spoils for its quality brands. Tighter regulation is one solution, but another is for management and shareholders to be fully aware of both the saleable value of their brands and the value that those brands contribute to the overall business.”

Shell remains Britain’s most valuable brand with a value of £28.3 million, up 35% with Vodafone in second place at £16.8m, down 9%, and HSBC in third (£15.9m).