Liquor producer Diageo benefits from better Corona situation
The end of the strict Corona restrictions in many countries with bars and clubs open again has given the British spirits manufacturer Diageo plenty of tailwind in recent months. The turnover therefore grew in the past fiscal year (end of June) by a good eight percent to 12.7 billion British pounds (14.9 billion euros), as the group announced in London on Thursday. On the basis of organic growth, i.e. adjusted for adverse exchange rate effects, it was even a plus of 16 percent and thus more than analysts had expected.
Diageo
At a good 20 percent, organic growth was strongest in North America. The demand there was robust, spirits were gaining market shares compared to other alcoholic beverages and wholesalers as well as bars were filling their stocks, the company said. Operating profit rose by as much as three quarters to 3.7 billion pounds. However, a year ago high, pandemic-related write-downs on its businesses in India, Nigeria, Ethiopia and Korea had weighed on profits.
On balance, Diageo earned just under 2.7 billion pounds, up from 1.4 billion a year ago. The shares listed in the European selection index Stoxx Europe 50 nevertheless came under pressure on Thursday morning, although they had also recovered strongly in recent months./mis/zb/jha/ (dpa)
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