Diageo drink sales decline in UK but increase in Latin America
Published 09/02/2012 | 08:11
DRINKS giant Diageo today said sales in the UK were falling behind its continental neighbours - although Britons are still lapping up vodka and Baileys.
Smirnoff and whiskey and cream-based liqueur Baileys remained popular in the six months to December 31, but overall sales still declined in the UK and were flat in Europe, which was supported by double-digit growth in France and Germany.
Diageo, which saw a 12pc rise in pre-tax profits to £1.8 billion in the period, said UK sales were hit by a decision to hold firm on prices and cut the number of promotions.
Elsewhere, Latin America remained the company's strongest market with 23pc sales growth, compared with 12pc growth in Africa, 10pc in Asia and 5pc in North America.