UK: Diageo year so far trading "in line"
Diageo has reported that organic net sales growth for the nine months to the end of March were in line with the company's performance in the first half of the year.
The drinks giant said today (8 May) that the nine-month period to 31 March showed net sales growth of 7% year-on-year, in line with growth seen in the first half of the year to the end of June.
The British company also reported that there has been "no material change in the financial position" of the group. The return of cash to shareholders through the payment of dividends and the continued share-buyback programme led to a reduction in net assets from GBP4.2bn (US$8.2bn) at 30 June 2007 to GBP3.9bn at 31 March 2008.
"Trading in the third quarter continued in line with the first half and we are therefore maintaining our guidance for 9% organic operating profit growth for the current fiscal year," said Diageo's CEO, Paul Walsh.
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