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. ...
- Comment - Diageo CFO to North America? Do the Math
- Rekorderlig Deal Sees Molson Coors Miss Out
- 5 reasons why Constellation's Meiomi buy works
- Hail Marie Brizard: But, For How Long?
- Constellation Brands basks in beer glory
- Diageo ditches Shui Jing Fang plans in China
- MillerCoors changes CMOs with immediate effect
- C&C Group chairman backs CEO amid turmoil
- Molson Coors acquires Rekorderlig UK rights
- William Grant partners Rugby World Cup