Diageo makes good start to new financial year

21 Sep, 2016 1:22 pm

LONDON – Drinks maker Diageo said on Wednesday its 2017 fiscal year had started well, with the key drivers of improved top line growth being scotch whisky, US spirits and India.

“As expected, the momentum we created last year, strengthening our business through improved marketing,innovation, and commercial execution, has set us up to deliver a stronger performance,” said Chief Executive Ivan Menezes in a statement ahead of its annual shareholders’ meeting.

Diageo said that given its sales momentum and progress in implementing productivity changes it was confident of achieving its objective of mid-single digit top line growth. It also expects to deliver 100 basis points of organic operating margin improvement over three years ending fiscal 2019. -Reuters

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