just the Facts - Diageo's Q3 Trading Update
Diageo released a Q3 and YTD trading update earlier today
The US was praised for “delivering a strong performance” in the three months to the end of March with “underlying consumer trends unchanged from the first half”. Price rises introduced since May helped, with the country being highlighted as “the key driver of performance for Diageo North America (regional net sales in YTD +6%)”.
Trading trends in Western Europe (YTD net sales -4%) remain unchanged in the quarter, which benefited from weak comparisons a year earlier in France, an earlier Easter this year and “shipment phasing” in Spain, which is expected to reverse in Q4.
Africa, Eastern Europe & Turkey (YTD net sales +9%) continued in Q3 where it left off in H1. Trading in Nigeria weakened slightly “as anticipated”, while elections in Kenya registered a short-term impact. Russia cycled tough prior-year comparatives in the quarter, due to “shipment phasing” between Q3 and Q4 last year. Sales in Turkey were hampered by stock-piling by customers in Q2 ahead of a duty increase.
Latin America & Caribbean (YTD net sales +14%) noted consumer weakness in Brazil, while “systems changes” in Colombia and Venezuela resulted in higher H1 shipments, which reversed in Q3.
A strong quarter a year earlier hit sales in Asia Pacific (YTD net sales +4%), which saw price increases and “the continued decline” of the Scotch whisky market in Korea slow growth.
Two entities expressed "serious interest" in buying collapsed wholesaler Waverley TBS after it called in administrators last year, it has emerged. ...
- Pernod Ricard 's first-half results - Preview
- Carlsberg's Q4 & full-year results - Preview
- Heineken's FY performance by region - Focus
- Carlsberg's full-year performance by region
- Key trends for beer in 2016 - Focus
- Asahi Group lines up Grolsch, Meantime, Peroni buy
- Diageo completes wine category exit in US
- Beam Suntory targets Kenya with Edrington/FIX
- SABMiller's Europe chief to join Britvic board
- Asahi Group to buy Grolsch, Peroni from SABMiller