Diageo Fiscal Year Profit Seen to Grow; Buyback Program Reinstated
May 12 2021 - 2:50AM
Dow Jones News
By Sabela Ojea
Diageo PLC said Wednesday that it expects to report organic
operating growth of at least 14% in fiscal 2021, adding that its
share-buyback program has been recommenced.
The world's largest liquor maker--which owns Johnnie Walker
whisky and Tanqueray gin--said that its organic operating growth is
also anticipated to be slightly ahead of net sales growth for the
year ending June 30.
The FTSE 100 listed company added that it continued to deliver a
good recovery across all regions, noting that its performance in
its largest market, North America, remained particularly
strong.
Regarding its share-buyback program, Diageo said that its 4.5
billion pounds ($6.36 billion) return of capital program will be
completed by June 30, 2024, adding that it had to be extended two
years because of the effects of the coronavirus pandemic.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
May 12, 2021 02:35 ET (06:35 GMT)
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