Diageo Delivers Increase In Profits Reflected By Accelerated Organic Growth
Diageo has posted its interim results for the six months ending 31 December 2016 financial reports today (26 January). The results show an increase in net sales (£6,421 million) and operating profit (...
Diageo has posted its interim results for the six months ending 31 December 2016 financial reports today (26 January). The results show an increase in net sales (£6,421 million) and operating profit (£2,065 million) of 14.5% and 28.0% respectively, reflecting accelerated organic growth and favourable exchange.
Ivan Menezes, Chief Executive, Diageo commenting on the results said: “We have delivered a strong set of results with broad based improvement in both organic volume and top line growth and this positive momentum demonstrates continued effective execution of our strategy.”
The report also highlights Diageo's strong performance in the US attributed mainly to it's spirits and scotch growth.
“Highlights this half include improved performance in our US Spirits business and across our scotch portfolio, driven by our focus on marketing with impact, innovating at scale, expanding our route to consumer, and winning in reserve.” Menezes added.
He also outlined that Diageo is building a stronger, more consistent, better performing company. Menezes said: “We are identifying consumer trends faster, expanding the reach of our products across markets and developing trade channels to capture these growth opportunities. Our productivity work is on track, driving efficiency and effectiveness across the business. Our work on trade and marketing spend gives us better data enabling smarter, quicker decisions that generate higher returns.”