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

28th January, 2018

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



Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Tom Maguire: Tax changes we make now could help business for years

More Business Tom Maguire 8 months ago

The Daily Briefing

The Daily Briefing