Diageo issues trading commentary ahead of AGM 2017

 20 September 2017

 

Diageo issues trading commentary ahead of AGM 2017

 

Ivan Menezes, Chief Executive, commented:

 

"Our business continues to strengthen through improved marketing, innovation, and commercial execution, and we are well set up to deliver in line with our expectations.

 

We expect the H1 organic net sales growth rate will be impacted by the later timing of Chinese New Year and by the expected impact of the highway ban in India. Our productivity work continues to move at pace. As previously announced, we are up-weighting our investment behind US Spirits and scotch, and as a result we expect our organic operating margin expansion will be weighted towards H2. Our expectations on overall performance for the year remain unchanged.

 

Underlying momentum and progress in implementing productivity gives us continued confidence in our ability to deliver sustainable growth. We re-affirm our expectation of mid-single digit top line growth and 175bps of organic operating margin improvement over the three years ending 30 June 2019."

 

 

For further information

 

Media relations:		Jessica Rouleau	+44 (0) 208 978 1286
		Bianca Agius	+44 (0) 208 978 1450
		[email protected]
Investor relations:		Sharon Rolston	+44 (0) 208 978 1219
		Andrew Ryan	+44 (0) 208 978 6504
		Rohit Vats	+44 (0) 208 978 1064
		[email protected]

 

About Diageo

 

Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, JεB, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

 

Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice.

 

Celebrating life, every day, everywhere.

 

ENDS

 

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