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

Non-alcoholic beer fails the Bernstein challenge

Crazy days in the Bernstein offices. Taking time out from being one of the world’s top beverage analysts, the Bernstein team, lead by its London-based veteran Trevor Stirling, held its very own taste ...

BLOG

AG Barr launches Funkin innovation search

AG Barr has lined up a Funkin campaign in the UK to find an 'innovation champion'. ...

BLOG

Are you a beer geek? Take the Brewdog quiz and find out

Brewdog, the Scottish craft brewer, likes to claim its drinkers are some of the most knowledgeable around....

BLOG

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

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

just-drinks homepage



Forgot your password?