Ahead of Diageo’s AGM today, its Chief Executive stated that its current financial year, which began on 1 July, had started well with organic net sales growth across all regions.
However, the owner of brands such as Guinness, Johnnie Walker, and Smirnoff, noted that it faces several headwinds.
“We expect the operating environment to remain challenging with ongoing volatility due to geopolitical uncertainty, a weakening of consumer spending power, inflationary pressures and disruption related to Covid-19,” said Ivan Menezes.
“However, I am confident in the resilience of our business and our ability to navigate these headwinds while executing our strategic priorities, including our ambitious 2030 sustainability plan.”
He added that the drinks company was “well-positioned” to deliver on its medium-term guidance for the financial years 2023 to 2025. That stands at organic net sales growth in a consistent range of 5% to 7% and organic operating profit growth between 6% and 9%.
