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Whisky firm's profits fall 3.7% Whisky firm's profits fall 3.7%
(10 minutes later)
Drinks giant Diageo has announced pre-tax profits of more than £2bn, a fall of 3.7% on the previous year.Drinks giant Diageo has announced pre-tax profits of more than £2bn, a fall of 3.7% on the previous year.
Pre-tax profit for the year to the end of June came in at £2.015bn.Pre-tax profit for the year to the end of June came in at £2.015bn.
The firm, which plans to cut 900 Scots jobs at two plants, said whisky sales were down by 3%, with Johnnie Walker the worst affected, seeing an 11% fall.The firm, which plans to cut 900 Scots jobs at two plants, said whisky sales were down by 3%, with Johnnie Walker the worst affected, seeing an 11% fall.
Staff from its Johnnie Walker plant in Kilmarnock, which is under threat along with its Port Dundas distillery, will join MPs to protest about the plans.Staff from its Johnnie Walker plant in Kilmarnock, which is under threat along with its Port Dundas distillery, will join MPs to protest about the plans.
The two staff representatives and politicians, including former Scottish Secretary Des Browne, will visit Diageo's headquarters in London as well as the House of Commons and 10 Downing Street to voice opposition to the closures.The two staff representatives and politicians, including former Scottish Secretary Des Browne, will visit Diageo's headquarters in London as well as the House of Commons and 10 Downing Street to voice opposition to the closures.
Diageo's plan, announced in July, puts 700 jobs at risk at the Kilmarnock plant, while another 200 are threatened at the Port Dundas distillery in Glasgow.
I am concerned that people are almost trying to dent the image of the Johnnie Walker brand Paul WalshDiageo chief executiveI am concerned that people are almost trying to dent the image of the Johnnie Walker brand Paul WalshDiageo chief executive
Diageo's plan, announced in July, puts 700 jobs at risk at the Kilmarnock plant, while another 200 are threatened at the Port Dundas distillery in Glasgow.
The firm said these would be off-set by the creation of up to 400 new posts in Fife.The firm said these would be off-set by the creation of up to 400 new posts in Fife.
Chief executive Paul Walsh told BBC Scotland it had been "a very challenging" year.Chief executive Paul Walsh told BBC Scotland it had been "a very challenging" year.
"But overall, given the environment, I think this is a robust set of numbers," he said."But overall, given the environment, I think this is a robust set of numbers," he said.
He admitted he feared the campaign to save the jobs may affect sales of Johnnie Walker in future.He admitted he feared the campaign to save the jobs may affect sales of Johnnie Walker in future.
"I'm aware of the jobs campaign and I am concerned that people are almost trying to dent the image of the brand, which will not be good for the remaining employees, so I think it's very short-sighted," he said."I'm aware of the jobs campaign and I am concerned that people are almost trying to dent the image of the brand, which will not be good for the remaining employees, so I think it's very short-sighted," he said.
"However, overall, I believe the brand equity that we have around the world will prevail."However, overall, I believe the brand equity that we have around the world will prevail.
Johnnie Walker whisky has been bottled in Kilmarnock since 1820
"As tragic as it is for the employees in Kilmarnock who will lose their jobs, I have to look out for the well-being of the other 4,000 employees in Scotland and make sure that we have a viable business going forward.""As tragic as it is for the employees in Kilmarnock who will lose their jobs, I have to look out for the well-being of the other 4,000 employees in Scotland and make sure that we have a viable business going forward."
Mr Walsh said he was "very comfortable" with the cost-cutting measures, which he claimed would save the company £120m next year and allow greater spending on marketing its brands.Mr Walsh said he was "very comfortable" with the cost-cutting measures, which he claimed would save the company £120m next year and allow greater spending on marketing its brands.
The Scottish Government has agreed an alternative business plan to save the Kilmarnock plant and continue production in Port Dundas, which it is set to present to the firm. The Scottish Government has agreed a letter laying out an alternative business plan to save the Kilmarnock plant and continue production in Port Dundas, which it is set to present to the firm.
Mr Walsh said he had not yet seen details of the plan. Mr Walsh said he had not yet seen the letter.
"I will be very open-minded when I look at the content but I hope the content is specific and provides options to maintain our business objectives, to be cost-competitive," he said. "I will be very open-minded when I look at the content but I hope the content is specific and provides options that still maintain our business objectives, ie being cost-competitive," he said.
Johnnie Walker has been bottled in Kilmarnock since 1820. "And if there is a gap I hope the letter is very clear on how the public purse is going to fund that gap."
When asked if a government subsidy would prompt a rethink, he said: "As long as our shareholders are neutral in this proposal I will be very open-minded."