In brief statement ahead of Diageo’s AGM, the drinks giant’s Chief Executive said the firm had got its fiscal 2020 year off to a good start, although he warned it was “not immune” to changes in global trade policies.
Ivan Menezes stated that it was predicting organic sales growth in between the 4% to 6% range with operating profit growing roughly one percentage point ahead of this.
“Fiscal 20 has started well as we continue to build on the momentum and consistent progress we are making in the execution of our strategy. Our focus remains on delivering quality sustainable growth. This is supported by a culture of everyday efficiency that enables us to invest smartly in marketing and growth initiatives while expanding margins,” he said.
“Due to a strong prior year comparable, for the first half we expect organic operating profit growth to be in-line with or slightly behind organic net sales growth. However, we would not be immune from significant changes to global trade policy and continue to monitor this closely.”
