DEO Diageo Plc

By Anthony O. Goriainoff

Diageo PLC (DGE.LN) Thursday said the company had a good start to fiscal 2020 and backed the board's views for the year.

The world's largest liquor maker--which owns the Johnnie Walker and Smirnoff brands among others--said it expects first half organic operating profit growth in-line with, or slightly behind, organic net sales growth. Organic operating profit for the first half of fiscal 2018 grew by 12.3%. Organic net sales grew 7.5% for the year-prior period.

The board said that it expects organic net sales growth for fiscal 2020 to be toward the midpoint of the 4% to 6% range. It added that organic operating profit will grow roughly one percentage point ahead of organic net sales.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

September 19, 2019 02:37 ET (06:37 GMT)

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