UK: Diageo drinks sales rebound in Q3

By | 6 May 2010

Tanqueray producer posts strong Q3

Tanqueray producer posts strong Q3

Diageo has followed rival Pernod Ricard in reporting a rebound in drinks sales in its fiscal third quarter.

Diageo said today (6 May) that like-for-like sales for the three months to the end of March rose by 12% on the same period of the previous year.

The rebound from a prior year hit by destocking in the economic downturn enabled the Smirnoff and Johnnie Walker producer to report like-for-like sales up 2% for the first nine months of its fiscal year.

Despite the third quarter gain, Diageo did not raise its guidance of low single-digit growth in like-for-like operating profits for the full-year.

"Consumer trends remain difficult to predict, especially in the mature markets," said Diageo CEO Paul Walsh.

"While we have seen some signs of recovery, albeit fragile in the mature markets and stronger in the emerging markets, our performance in the quarter benefited from comparison against a weak third quarter last year, from the earlier Easter this year and in some markets sales were brought forward in advance of excise duty increases," he added.

Last week, Diageo rival Pernod Ricard reported a 16% rise in like-for-like sales in its third quarter.

For the full Diageo announcement, click here.

Sectors: Beer & cider, Company results, Spirits, Wine

Companies: Diageo, Pernod, Ricard, Smirnoff, Johnnie Walker

There are currently no comments on this article

Be the first to comment on this article

Related articles

just the Round-Up - The week in drinks

The top ten stories published on just-drinks this week:

GLOBAL: Diageo readies Bushmills packaging upgrade

Diageo has released updated packaging for its single malt variants in the Bushmills Irish whiskey stable.

INDIA: Radico Khaitan seeks international drinks partners

Radico Khaitan is in talks with international drinks companies with a view to importing and distributing new brands in the firm's native India.

Read more on this hot issue

Focus - Diageo's FY Results

A round-up of all just-drinks' coverage of Diageo's full-year figures.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page