Guinness tempts some thirsty hedge funds
Sterling’s recovery and a weak dollar have cut into Diageo’s share gains, but the company is making its balance sheet more efficient, writes Andrea Felsted
Two years ago, Diageo plc looked like the perfect tipple for an activist investor. Then Britain voted to leave the EU and, with 94 per cent of its revenue in currencies other than sterling, the company got a lucky boost from a slumping pound.
The shares have risen almost 50 per cent since June 2016, weakening the activist case and easing the pressure on chief executive Ivan Menezes.
But sterling’s recovery and the dollar’s Steve Mnuchin-approved weakness are...
Subscribe from just €1 for the first month!
Exclusive offers:
All Digital Access + eReader
Trial
€1
Unlimited Access for 1 Month
*New subscribers only
Annual
€200
€149 For the 1st Year
Unlimited Access for 1 Year
Quarterly
€55
€42
90 Day Pass
2 Yearly
€315
€248
Unlimited Access for 2 Years
Team Pass
Get a Business Account for you and your team
Related Stories
Tom Maguire: Tax changes we make now could help business for years
The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures
The Daily Briefing
What’s coming up today and what you might have missed
The Daily Briefing
What’s coming up today and what you might have missed.
