Diageo shares slide on 2% profit rise

26 August, 2010

Diageo has reported a 2% rise in operating profit in the year to 2010.

The spirits giant said it had seen a strong second-half performance with net sales ahead by 6% and organic net sales growth of 2%.

Earnings per share increased by 13%.

Chief executive Paul Walsh said: “As expected this has been a year of challenges and opportunities.

“Our performance was much stronger in the second half than the first.

“Our performance in the developing markets drove overall growth, while markets in North America and Europe have remained weak.”

Diageo shares were down 18p at 1048p in early trading on the London Stock Exchange on Thursday morning.




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Richard Hemming MW: beware inverse snobbery

Few things can bring communal pleasure so intimately as wine. Apart from a hot tub, perhaps. Sport can trigger mass jubilation, film gives us shared empathy, but wine has a nigh-unique ability to bestow conviviality among us through a shared bottle – which makes it especially galling that we spend so much time divided over it.

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