Diageo toasting growth in whisky sales

STRONG Johnnie Walker sales in emerging markets in Asia helped parent group Diageo to post a 9 per cent rise in turnover for the first quarter.

Diageo, which is Scotland’s largest whisky distiller, posted 30 per cent sales growth in its Latin America and Caribbean region, with Asia-Pacific up 14 per cent, Africa 9 per cent higher, Europe ahead 6 per cent and North America rising by 5 per cent.

Paul Walsh – chief executive of the group, which also makes Guinness stout, Smirnoff vodka and Gordon’s gin – told shareholders at the firm’s AGM: “Diageo has delivered a good start to the new financial year. Net sales growth was marginally ahead of expectations.”

Shares in Diageo closed up 4 per cent or 51p to hit an all-time closing high of 1,331p, valuing the company at £33 billion. The stock had touched 1,348p earlier in the session.