By Anthony O. Goriainoff
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 -5.53% , 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.