Diageo sells less than expected as Europe disappoints
Diageo reported sales that advanced less than analysts anticipated as European consumers reined in spending while drinkers in the US shelled out more for higher-priced tipples.
Diageo, the world’s biggest distiller, reported sales that advanced less than analysts anticipated as European consumers reined in spending while drinkers in the US shelled out more for higher-priced tipples.
Organic sales rose 5 per cent, trailing analysts’ estimates of 5.6 percent growth, the company said in a statement. Earnings before interest and tax rose to £2.03 billion, excluding some items, from £1.87 billion a year earlier.
Diageo gets the majority of its profit...
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