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| Guinness maker Diageo sees profits jump | Guinness maker Diageo sees profits jump |
| (about 3 hours later) | |
| Diageo, the world's biggest producer of spirits, has reported a big jump in annual profits, thanks in part to strong sales and acquisitions in emerging markets. | Diageo, the world's biggest producer of spirits, has reported a big jump in annual profits, thanks in part to strong sales and acquisitions in emerging markets. |
| Pre-tax profit for the year to the end of June was £3.1bn, up 32% on the £2.4bn the company made in the previous year. Sales rose 10% to £14.6bn. | Pre-tax profit for the year to the end of June was £3.1bn, up 32% on the £2.4bn the company made in the previous year. Sales rose 10% to £14.6bn. |
| The maker of brands such as Guinness, Smirnoff, Baileys and Johnnie Walker did particularly well in Latin America. | The maker of brands such as Guinness, Smirnoff, Baileys and Johnnie Walker did particularly well in Latin America. |
| The firm proposed an 8% dividend rise. | The firm proposed an 8% dividend rise. |
| Net sales in emerging markets, which account for nearly 40% of Diageo's business, grew 15% over the year, while operating profits grew 23%. | Net sales in emerging markets, which account for nearly 40% of Diageo's business, grew 15% over the year, while operating profits grew 23%. |
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| Latin America and the Caribbean, the group's best-performing region, saw net sales rise 19% and operating profits rise 23%. | Latin America and the Caribbean, the group's best-performing region, saw net sales rise 19% and operating profits rise 23%. |
| In Paraguay, Uruguay and Brazil, nearly two-thirds of growth came from sales of whiskey, particularly Johnnie Walker and Old Parr, the company said. | In Paraguay, Uruguay and Brazil, nearly two-thirds of growth came from sales of whiskey, particularly Johnnie Walker and Old Parr, the company said. |
| Commenting on the results chief executive Paul Walsh said: "Diageo is a strong business, getting stronger and the results we released this morning show that very clearly. | Commenting on the results chief executive Paul Walsh said: "Diageo is a strong business, getting stronger and the results we released this morning show that very clearly. |
| "We have increased our presence in the faster growing markets of the world, through both acquisitions and strong organic growth." | "We have increased our presence in the faster growing markets of the world, through both acquisitions and strong organic growth." |
| Net sales for the group grew 6% while operating profits grew 9%. | Net sales for the group grew 6% while operating profits grew 9%. |
| Richard Hunter, head of equities at Hargreaves Lansdown stockbrokers, said: "Despite heightened expectations, investors are raising a glass to another set of sparkling results. | Richard Hunter, head of equities at Hargreaves Lansdown stockbrokers, said: "Despite heightened expectations, investors are raising a glass to another set of sparkling results. |
| "Diageo has managed to ride the wave of emerging markets strength, whilst also being well positioned for any uptick in the North American economy." | "Diageo has managed to ride the wave of emerging markets strength, whilst also being well positioned for any uptick in the North American economy." |
| Diageo's shares have risen 50% over the last year. | Diageo's shares have risen 50% over the last year. |