Diageo shares slide on 2% profit rise

26 August, 2010

Diageo has reported a 2% rise in operating profit in the year to 2010.

The spirits giant said it had seen a strong second-half performance with net sales ahead by 6% and organic net sales growth of 2%.

Earnings per share increased by 13%.

Chief executive Paul Walsh said: “As expected this has been a year of challenges and opportunities.

“Our performance was much stronger in the second half than the first.

“Our performance in the developing markets drove overall growth, while markets in North America and Europe have remained weak.”

Diageo shares were down 18p at 1048p in early trading on the London Stock Exchange on Thursday morning.




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Rosé tinted glasses

I was asked recently what I thought the biggest change had been in wine fashion in the past five years. My answer was unequivocal: sales of pink wines. From being a niche that expanded and contracted with the sunshine, rosé has subtly but steadily become a stalwart of many merchants’ ranges, with Provence firmly at the top and asked for by name.

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