TOP NEWS: Diageo Reiterates Long Term Earnings Guidance

LONDON (Alliance News) - Johnnie Walker scotch maker Diageo PLC on Wednesday reiterated its ...

Alliance News 22 May, 2019 | 12:36PM
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LONDON (Alliance News) - Johnnie Walker scotch maker Diageo PLC on Wednesday reiterated its current sales and margin guidance and said it remains focussed on delivering sustainable and consistent growth.

"As we approach the end of our financial year, we are reiterating our current guidance of delivering organic net sales growth towards the upper end of our mid-single digit range and 175bps organic operating margin improvement over the three years ending 30 June 2019," Chief Executive Ivan Menezes said at an investor conference on Wednesday.

"As we look ahead to the end of fiscal 22, I expect Diageo to maintain organic net sales growth in the mid-single digit range and to grow organic operating profit ahead of net sales in the range of 5% to 7%," Menezes added.

The FTSE100 listed company is holding an investor conference in New York to outline its strategy for delivering consistent, sustainable growth over the medium term. The company is scheduled to release its results for the year ended June 30 on July 25.

London listed shares in the spirits company were trading 0.6% lower at 3,306.20 pence each on Wednesday afternoon.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Diageo PLC 3,423.00 GBX -0.25
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