Food & Wine

Guinness drinkers drive Diageo sales growth in Ireland but American spirits falling

The drinks giant reported net sales of £9.4 billion, an 18.4 per cent increase but its shares dropped due to a sales slowdown in North America.

Diageo says price increases along will not cover the inflation in the cost of raw materials.

Guinness drinkers powered a 20 per cent growth in sales for Diageo in Ireland in the second half of last year, but the end of Covid-19 pandemic restrictions has seen sales of spirits fall in the American market.

The drinks giant reported net sales globally of £9.4 billion, an 18.4 per cent increase but its shares dropped due to a sales slowdown in North America.

Sales rose 3 per cent on an organic basis in ...