MARTIN DEBOO INVESTEC
Diageo missed expectations in the third quarter with organic growth of four per cent...But, under the hood, the story still looks decent to us: it is a small quarter with softer comparatives to come in the next quarter. North America remains strong and the western Europe division wasn’t as bad as expected.
CARL SHORT S&P CAPITAL IQ
Diageo’s third quarter organic sales growth of four per cent was around one per cent below our and capital first quarter consensus forecasts, mainly due to slightly slower growth in emerging markets although growth in these areas continued to be good particularly versus western Europe. We reiterate ‘buy’.
RICHARD HUNTER HARGREAVES LANSDOWN
The update comes with a tinge of disappointment, but spirits remain high in the US. Set against stretching expectations, investors have chosen to focus on weakness in the markets of Korea, Nigeria and Brazil in early trade... In terms of longer term prospects, Diageo remains a market favourite.