Diageo shrugs off slowdown
Friday 24 August 2012
People across the globe are drinking their way through recessions and financial crises, results from the world's largest spirits producer suggest.
Diageo shrugged off a slowdown in Europe thanks to surging sales of Guinness, Smirnoff, Baileys, Johnnie Walker and Old Parr in emerging markets.
Sales in emerging markets, which now account for nearly 40 per cent of Diageo's business, grew 15 per cent over the year. That helped to take profits for the year to June up 32 per cent to £3.1bn. Total sales rose 10 per cent to £14.6bn, allowing the company to hike the dividend by 8 per cent to 43.5p.
Paul Walsh, chief executive, said: "Diageo is a strong business getting stronger … . We have increased our presence in the faster-growing markets of the world, through both acquisitions and organic growth."
Latin America and the Caribbean saw net sales rise 19 per cent.
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
The man they forgot to lock up: Mike Anderson was sentenced to 13 years in jail, but the police never came
Unbeliebable: The White House offers 'no comment' to anti-Justin Bieber petition
Loch Ness Monster found on Apple Maps?
South Korea ferry disaster: Families watch as remains of Sewol victims returned to shore
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
An open letter to Nigel Farage: you may smile, but I am not seduced
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Abdullah Deghayes: My son was the martyr of a just cause, says father of British teenager killed in Syria conflict
- 1 Easter egg hunt horror as mother finds dead body under deck of house
- 2 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 3 Unbeliebable: The White House offers 'no comment' to anti-Justin Bieber petition
- 4 Loch Ness Monster found on Apple Maps?
- 5 Criminals ‘using unmanned drones and infrared cameras to find illegal cannabis farms’ – and then steal from the growers
iJobs Money & Business
Negotiable: Harrington Starr: Database Team Lead ( Leadership, Sybase, Compute...
£40000 - £50000 per annum + Bonus+Benefits+Package: Harrington Starr: C#.NET D...
£25000 - £35000 per annum + Bonus+Benefits+Package: Harrington Starr: VB.NET S...
£45000 - £55000 per annum + Bonus and Benefits: Harrington Starr: Trade Suppor...