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.
Go deeper with GlobalData
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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
