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Diageo half-year profits rise 15% on emerging markets | Diageo half-year profits rise 15% on emerging markets |
(40 minutes later) | |
Drinks group Diageo has reported a rise in half-year profits as demand for its global brands continues to grow in emerging markets. | Drinks group Diageo has reported a rise in half-year profits as demand for its global brands continues to grow in emerging markets. |
href="http://www.investegate.co.uk/Article.aspx?id=201202090700290887X" >Pre-tax profits were £1.86bn ($2.95bn) for the six months to 31 December, up 15% on the same period a year earlier. | |
Diageo, whose brands include Guinness, Smirnoff and Johnnie Walker, has had a long-term strategy of building sales and profits in fast-growing economies. | Diageo, whose brands include Guinness, Smirnoff and Johnnie Walker, has had a long-term strategy of building sales and profits in fast-growing economies. |
Sales in these regions now account for 40% of Diageo's total business. | Sales in these regions now account for 40% of Diageo's total business. |
Chief executive Paul Walsh said the group saw strong growth of 18% across its emerging markets in the last six months of 2011. | Chief executive Paul Walsh said the group saw strong growth of 18% across its emerging markets in the last six months of 2011. |
That helped to offset European sales, which were depressed by poor trading in eurozone nations such as Spain, Greece and the Irish Republic. | That helped to offset European sales, which were depressed by poor trading in eurozone nations such as Spain, Greece and the Irish Republic. |
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