Diageo Performing in Line With Expectations, Backs Three-Year Guidance
September 20 2017 - 3:01AM
Dow Jones News
By Ian Walker
Diageo PLC (DGE.LN) said Wednesday that it is well set to
perform in line with the board's expectations, and backed its
three-year guidance.
The drinks company, which houses Johnnie Walker, Crown Royal,
J&B, Buchanan's and Smirnoff among its brands, added that it
expects first-half organic net sales growth to be hit by the later
timing of Chinese New Year, and by the expected impact of a highway
ban in India.
It also said that the board is increasing its investment in U.S.
Spirits and Scotch, and as a result expects organic operating
margin expansion to be weighted towards the second half of the
year.
Diageo has a target of mid-single digit top line growth and 175
basis points of organic operating margin improvement over the three
years ending June 30, 2019.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
September 20, 2017 02:46 ET (06:46 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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