Diageo spirits up after earnings rise
Diageo, the world's biggest alcoholic drinks group, posted a 15 percent rise in first-half earnings on Thursday as it maintained its full-year target for underlying operating profits to rise by 9 percent.
Diageo to buy Rosenblum Cellars"This first-half performance demonstrates that our brands are well supported and our routes to market remain strong," Chief Executive Paul Walsh said.
"While we continue to watch for any impact that recent financial market volatility may have on broader trading conditions, we are maintaining our guidance for 9 percent organic operating profit growth for the current fiscal year."
Diageo said its earnings per share in the six months to end-December rose to 37.6 pence per share, meeting forecasts.
The interim dividend was raised 5.2 percent to 13.2 pence.
Walsh said while the improved performance was broad based, some areas were key. "Our U.S. spirits business again delivered strong top line growth," he said.
"Looking at our individual brand performances; Johnnie Walker has again delivered double-digit net sales growth as have Smirnoff and Captain Morgan. The performance of Guinness has also improved with net sales up 6 percent and share gains in Great Britain and Ireland."
(Reporting by Dan Lalor; Editing by Louise Ireland)
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