Guinness and Baileys owner Diageo predicts massive growth next year as it seeks to boost its market share.
The firm announced today that it expects net sales to surge by at least 16pc in the first half of 2022, three to four times its pre-pandemic average.
At its Capital Markets Day in London today, the group announced its intention to increase its share of the total alcohol beverage market from 4pc in 2020 to 6pc by 2030.
It said organic net sales would moderate in the years after 2022 to around 5-7pc, compared to growth of 4-6pc in the two years before the pandemic.
It expects organic operating profit growth of 6-9pc from 2023 to 2025.
“Despite the challenges created by Covid-19, we delivered strong organic net sales growth, drove an improvement in organic operating margin and delivered strong cash flows, while continuing to invest in long-term sustainable growth,” said chief executive Ivan Menezes.
“We believe our sales growth trajectory has accelerated, underpinned by the strength of our advantaged position across geographies, categories and price tiers.”
In a statement on Tuesday, the firm said it was seeing “resilience in the off-trade and continued recovery in the on-trade” despite “rising inflationary pressures, which are partly due to supply chain constraints”.