just The Preview - Diageo's FY preliminaries
Diageo will report its full-year results on Thursday
On Thursday, Diageo will report its preliminary full-year results. Here just-drinks takes a look at how the group has fared in its final quarter, the three months to the end of June:
- In early April, the firm launched a legal bid against a US law that forces all spirits distilled in Tennessee to be stored within the state's borders.
- The group revealed plans to release a single grain Scotch whisky - Haig Club - in partnership with David Beckham and British media mogul Simon Fuller.
- The firm moved ahead to take majority control of United Spirits. Diageo completed its bid to get 54.78% of the Indian firm in early July.
- Diageo launched a new global multi-media campaign for Smirnoff.
- In May, the company appointed Marks & Spencer's CFO to its board of directors.
- Philippines-based Brandy producer Emperador was confirmed as the buyer for Scotch whisky producer Whyte & Mackay, owned by Diageo-controlled United Spirits.
- Plans to shake-up parts of Diageo's Australian bottling operations were revealed.
- In late-May, the firm announced its intention to spend US$115m on building a new distillery in the US state of Kentucky.
- In June, it emerged the group has cut around 200 head office and regional roles as part of on-going cost-saving measures.
- The company won its legal battle over spirits storage laws in the US state of Tennessee.
- Diageo appointed a global communications director, a newly-created role.
For the first nine months of its fiscal-2014:
- Sales on an organic basis rose by 0.3%
- Reported sales in the year-to-date slid by 7.4%
- Group volumes fell by 2%.
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