Diageo Growth Slows In Line With Expectations
Published on Apr 17 2013 3:28 PM in Drinks
Diageo has highlighted slowing growth in two important emerging markets in its third quarter, but sales in the year-to-date remain in line with expectations. “Diageo’s performance for the nine months is in line with the first half and our expectations,” said CEO Paul Walsh.
“Strong performance from our biggest business, US spirits; the continued growth of spirits in Africa; share gains across our markets in Asia Pacific and double-digit growth of Johnnie Walker, Crown Royal, Buchanan’s, and Tanqueray are the highlights of the quarter. Given our market positions and geographic diversity we remain confident that Diageo’s performance continues to be in line with our medium term guidance.” In Western Europe sales fell by 4%, but the company said that “underlying trends in [the region] remain unchanged.”
On a regional basis: North America saw net sales increase by 6%, Western Europe sales fell by 4%, Africa, Eastern Europe & Turkey was up by 9%, Latin America & Caribbean performed strongest, with sales jumping by 14%, Asia Pacific saw growth slow, increasing by only 4%.