Diageo cheers strong start to new financial year

Drinks giant Diageo said yesterday that its new financial year had got off to a good start, with sales growth being driven by Scotch whisky, US spirits and India '“ its declared strategic priorities for 2017.

By The Newsroom

Published 22nd Sep 2016, 07:45 BST

Updated 5th Oct 2016, 14:38 BST

This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.

Diageo said it was poised to deliver a 'stronger performance' this year. Picture: Ian Rutherford

Ivan Menezes, group chief executive, said: “The fiscal year 2017 has started well. As expected, the momentum we created last year, strengthening our business through improved marketing, innovation, and commercial execution, has set us up to deliver a stronger performance.”

Diageo shrugs off Brexit threat as profits rise

The update came ahead of the shareholder AGM yesterday of Diageo, Scotland’s biggest whisky company, whose brands include Johnnie Walker whisky, Smirnoff vodka and Guinness.

In July, the group posted a 3.5 per cent rise in operating profits to £2.8 billion on like-for-like revenues up 2.8 per cent at £10.5bn, as the spirits giant recovered its momentum after two flat years battling against an emerging market slowdown.

Click here to ‘Like’ The Scotsman Business on Facebook