Sept. 19, 2019, 3:04 a.m. EDT

Diageo reports good start to 2020

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By Anthony O. Goriainoff


Smirnoff

Diageo PLC 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 /zigman2/quotes/205611832/delayed UK:DGE -0.55%  , 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.

/zigman2/quotes/205611832/delayed
UK : U.K.: London
3,099.50 p
-17.00 -0.55%
Volume: 1.40M
Oct. 21, 2019 2:17p
P/E Ratio
23.81
Dividend Yield
2.21%
Market Cap
£73.32 billion
Rev. per Employee
N/A
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