Diageo toasts ‘good start’ to year as drinkers’ thirst resilient despite economic slump THIRSTY THURSDAY Guinness owner Diageo has raised a glass to resilient demand for drinks despite a consumer spending slowdown. In a brief trading update on Thursday morning, the London-listed beverage giant said it had made a “good start” to its 2023 fiscal year. Chief executive Ivan Menezes noted “organic net sales growth across all regions” as the [...]
Sales overflow for drink giants Diageo and AB InBev as consumers still opt for pricey tipples CONSUMER THIRST Global drinks titans Diageo and AB InBev have reported overflowing sales after the easing of Covid lockdowns has driven punters back into bars. Johnnie Walker maker Diageo posted net sales of £15.5bn, an increase of 21.4 per cent, which it accredited to the pub and bar sector recovering from the side effects of Covid 19 [...]
In good spirits: Diageo shares rise after Guinness owner forecasts sales growth Guinness owner Diageo has said it expects organic net sales growth of at least 16 per cent in the first half of its new financial year. The announcement sent shares in the alcohol giant rocketing more than 3 per cent on Tuesday morning, to a high of £39.48. At its capital markets day, the beverage-maker [...]
Better-than-expected recovery for Guinness maker Diageo despite supply chain woes September 30, 2021 Guinness maker Diageo reported this morning strong recent trading with a better-than-expected recovery in Europe despite mounting supply chain woes. Shares in the FTSE 100 listed group are up by nearly 3 per cent. The group, which also makes Gordon’s gin and Smirnoff vodka, said it was seeing a solid start to its new financial [...]
Guinness owner Diageo sales jump as it toasts reopening July 29, 2021 Spirits group Diageo has beaten expectations for full-year sales as it gears up the reopening of bars and nightclubs across Europe. The booze business, which owns brands such as Guinness, Johnnie Walker and Smirnoff, reported net sales of £12.7bn in the year to the end of June, up 8.3 per cent on the previous year. [...]
FTSE 100 outperforms global peers as Wall Street opens lower May 12, 2021 London’s FTSE 100 rebounded today after stronger-than-expected GDP data bolstered optimism about a sharp economic recovery. The blue-chip index rose 0.9 per cent this afternoon, with drinks giant Diageo adding 4.1 per cent after forecasting profit growth and restarting its capital return programme. Elsewhere, Wall Street’s main indexes opened lower this afternoon after better-than-expected inflation [...]
Guinness owner Diageo restarts £1bn capital return plan after strong recovery May 12, 2021 Shareholders in drinks giant Diageo are set to receive billions of pounds in share buybacks as the firm’s Covid recovery enabled the restart of its return of capital programme. Diageo, the owner of Guinness and Smirnoff, this morning said it was restarting its capital return programme after a strong financial recovery, led by North America. [...]
Guinness owner Diageo hikes dividend despite impact of pub closures on sales January 28, 2021 Diageo, the owner of Guinness and Smirnoff, this morning announced it will hike its dividend despite the impact of coronavirus restrictions on pub and bar sales. Reported net sales fell 4.5 per cent during the second half of the year, while operating profit declined 8.3 per cent to £2.2bn. Organic net sales increased one per [...]
Guinness recalls non-alcoholic stout over safety concerns November 11, 2020 Guinness has urged customers not to drink its new non-alcoholic stout due to a microbiological contamination. The brand, which is owned by drinks giant Diageo, recalled its Guinness 0.0, saying the product may not be safe to consume. Guinness’ alcoholic stout is not affected by the contamination issue. It told customers to return the non-alcoholic [...]
Diageo snaps up Chase Distillery as it cashes in on gin boom October 26, 2020 Diageo today said it has agreed to buy British gin and vodka maker Chase Distillery, marking the drinks giant’s latest effort to strengthen its gin portfolio. The Herefordshire-based distillery is best known for its Chase GB Gin, as well as its Chase Original Potato Vodka. In total the company’s portfolio includes seven gins, four vodkas [...]