Diageo is set to post its full-year results tomorrow (26 August)

Diageo is set to post its full-year results tomorrow (26 August)

 

Diageo is set to report its full-year results tomorrow (26 August).

Here, just-drinks takes a look at the highs and lows for Diageo in the six months to the end of June.

  • The first action of 2010 for Diageo came in India where, in early-January, the firm's joint-venture partner in the country, Radico Khaitan, warned that it would block Diageo from taking full control of the JV. The shot followed the approval of the Indian Government in December for Diageo to buy out Radico Khaitan.
  • A regular source of Diageo-related headlines of late has been the possibility of it moving its head office out of the UK. Sure enough in the six-month period, the matter arose again. In February, the company would not be drawn on claims that it had been offered incentives to move its HQ to Switzerland. “As we have said before,” Diageo said, “we see many advantages to remaining a British domiciled company, but we have also made clear time and again that it is important the Government takes steps to ensure this country remains and develops its position as a competitive place to do business.”
  • Then, also in February, a tit-for-tat niggle between Diageo and Bacardi over the US Virgin Islands erupted into a public slanging match. In an astonishing outburst, Diageo accused Bacardi of conducting a clandestine “campaign of misinformation” against its plans to move Captain Morgan's rum operations to the US Virgin Islands. “Enough is enough,” said Diageo's executive VP for North America, Guy Smith. “We will not stand by while these special interests undermine our corporate reputation and jeopardise the economic future of the US Virgin Islands,” he said.

Richard Woodard, our regular spirits columnists, gives his opinion on the row here.

To read just-drinks' preview of Diageo's first half, click here.

For Diageo's H1 performance, click here.

For Diageo's latest share price, click here.