Friday 17 November 2017

Guinness maker Diageo reaffirms medium-term outlook

6/8/00 THE GUINNESS BREWERY ON JAMES STREET IN DUB...9/5/08
The Guinness Brewery St James Gate in Dublin...
Picture Collins, Dublin
6/8/00 THE GUINNESS BREWERY ON JAMES STREET IN DUB...9/5/08 The Guinness Brewery St James Gate in Dublin... Picture Collins, Dublin

The new head of Diageo has confirmed a key medium-term organic sales target for the world's biggest spirits group after it dipped in the last financial year due to weakness in some markets.

Delivering the first set of results under new boss Ivan Menezes, the maker of Johnnie Walker whisky and Guinness stout said organic net sales were up 5pc in the year to end June, slightly above forecasts but below the group's medium term target of 6pc.

The group said the results had been boosted by strength in the spirits market in the United States and double digit growth in emerging markets.

"The breadth of our good performance is reflected in the strength of the cash flow, in our double digit earnings per share growth and a recommended 9 percent increase in the final dividend," Menezes said.

"This year we have again made a strong business stronger and we remain on track to deliver our medium term guidance. "

Reuters

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business