Diageo, the world’s leading group in the alcohol and spirits market, was formed by the merger of two companies in 1997: Grand Metropolitan and Guinness Plca. The group published Thursday higher than expected half-yearly sales. In fact, demand in India and China is growing so fast that sales have exploded.
The brand also announced a share buyback program worth £660 million, or €754 million. Net sales of spirits reached €7.9 billion, up 7% on an organic basis, in the first half of the year.
Analysts expected organic net sales growth of 5.5% on average and earnings of €8.20 per share, according to a consensus provided by the group. Excluding the earnings per share was 0.88 euros, which is really exceptional !
Don’t drink and drive. Enjoy responsibly.