Fizz goes out of Diageo’s sales

Despite the norm of rising alcohol consumption in a recession, Diageo is suffering as people go for the cheaper option

13th February, 2010

Consumers are slow to give up alcohol during a recession, but drinks giant Diageo is finding that cheaper alternatives are more appealing in tough times. The company disappointed the market with its half-year results last week, with some analysts now questioning whether or not it can ever return to the growth levels enjoyed over the past decade.

For the past number of years, the buzzword for Paul Walsh, chief executive of Diageo, has been ‘‘premiumisation’’....

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