Sunday 18 August 2019

Guinness owner benefits from gin demand

Diageo owns Dublin’s Guinness brewery, is benefiting from the demand for gin
Diageo owns Dublin’s Guinness brewery, is benefiting from the demand for gin
Independent.ie Business Desk

Guinness owner Diageo has posted a rise in profits for the year as the gin boom continued to drive sales growth in the UK.

The Gordon's owner saw operating profits jump by 9pc to £4bn (€4.5bn) for the year to June 30.

The company said rising profits were driven by organic growth of its key brands following significant investment.

Ivan Menezes, chief executive of Diageo, said: "Diageo has delivered another year of strong performance.

"Organic volume and net sales growth was broad-based across regions and categories, with new product innovation being a strong contributor.

"These results reflect the steady progress we are making and, as we look ahead, we see attractive opportunities to deliver consistent growth and create shareholder value."

PA Media

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