Blog: Olly WehringDiageo takes a tumble

Olly Wehring | 14 October 2009

Shares in Diageo had dipped by nearly 3% on the London Stock Exchange by early this afternoon, following the drinks giant's trading update.

Shares slipped after Diageo said like-for-like net sales were down 6% in the first quarter of its fiscal year.

Despite a strong comparative quarter last year, the performance was worse than expected by several analysts.

Analyst group Sanford C Bernstein said in a note today: "This compares to SCBe and consensus estimates of -3%. This is significantly worse than the implied organic growth rate of -1% in Q4 FY09."

Shares in the group were down 1.5% on the New York Stock Exchange this afternoon.

 


BLOG

The (temporary) return of Paul Walsh to the drinks debate

Paul Walsh just can't stay away from the drinks industry....

BLOG

Budweiser races to stock Mars bars

For those people looking to the Red Planet as shining utopia away from all things earth, look away now....

BLOG

When life gives you lemons, make soap

Bacardi's 42 Below vodka brand has found a novel way to use the lemons left over from cocktail-making: Turn them into liquid soap....

BLOG

Small measures required as Philadelphia soda tax adds up

Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....

just-drinks homepage



Forgot your password?