Alcoholic beverages giant Diageo has posted operating profits of more than £2bn in its interim report released yesterday (January 26), boosted by improved performance in the US.
Diageo’s 200 job cuts reflect bigger industry issues and the maker of Guinness and Johnnie Walker whisky is not alone in feeling the pinch, according to Shore Capital analyst Phil Carroll.
New Diageo boss Ivan Menezes has confirmed the drinks giant’s commitment to premium local brands and Scotch whisky, as the firm released its preliminary results for the full-year ended June 30 2013.
The boss of Guinness and Johnnie Walker whisky maker Diageo is to step down after 13 years at the helm, in what City analyst Investec described as “a well-flagged transition”.
Diageo anticipates big growth from developing countries in the medium-term, and is planning further acquisitions in these markets given difficult trading conditions in mature markets such as Europe and North America.
