TIDMDGE
RNS Number : 4480N
Diageo PLC
30 September 2021
Diageo issues trading commentary ahead of AGM 2021
Ivan Menezes, Chief Executive, commented:
"We have made a strong start to fiscal 22, with organic net
sales momentum across all regions. This reflects excellent
execution, as we benefit from resilience in the off-trade and
continued recovery in the on-trade. However, we expect near-term
volatility to remain, including the potential impact of any future
waves of Covid-19.
Our North American business is performing strongly, despite some
supply chain constraints, reflecting resilient consumer demand. We
continue to invest ahead in marketing and innovation to underpin
long-term growth. Our business in Europe is recovering ahead of our
expectations. Off-trade demand has remained robust and there is
good momentum in the on-trade. Our businesses in Africa, Asia
Pacific and Latin America and the Caribbean are performing well,
although volatility in these markets is likely to persist. Travel
Retail continues to be disrupted.
We expect organic operating margin to benefit from a further
recovery in sales volumes, positive channel mix and premiumisation
trends, while we are continuing to invest in our marketing and
commercial capabilities. As previously indicated, we are managing
rising inflationary pressures, which are partly due to supply chain
constraints.
I am pleased with how our business is performing and I remain
confident in our ability to deliver long-term sustainable growth
and shareholder value. We will continue to do business in the right
way, from grain to glass, for all our stakeholders."
For further information please contact:
Investor relations:
Durga Doraisamy +44 (0) 7902 126 906
Lucinda Baker +44 (0) 7974 375 550
Belinda Brown +44 (0) 7590 810 246
Media relations:
Dominic Redfearn +44 (0) 7971 977 759
Jessica Rouleau +44 (0) 7925 642 561
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands including Johnnie Walker, Crown
Royal, J B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and
Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and
Guinness.
Diageo is a global company whose products are sold in more than
180 countries around the world. The company is listed on both the
London Stock Exchange (DGE) and the New York Stock Exchange (DEO).
For more information about Diageo, our people, our brands, and
performance, visit us at www.diageo.com. Visit Diageo's global
responsible drinking resource, www.DRINKiQ.com, for information,
initiatives and ways to share best practice.
Celebrating life, every day, everywhere.
Cautionary statement concerning forward-looking statements
This document contains 'forward-looking' statements. These
statements can be identified by the fact that they do not relate
only to historical or current facts. In particular, forward-looking
statements include all statements that express forecasts,
expectations, plans, outlook, objectives and projections with
respect to future matters, including trends in results of
operations, margins, growth rates, overall market trends, the
impact of changes in interest or exchange rates, the availability
or cost of financing to Diageo, anticipated cost savings or
synergies, expected investments, the completion of any strategic
transactions or restructuring programmes, anticipated tax rates,
changes in the international tax environment, expected cash
payments, outcomes of litigation or regulatory enquiries,
anticipated changes in the value of assets and liabilities related
to pension schemes and general economic conditions. By their
nature, forward-looking statements involve risk and uncertainty
because they relate to events and depend on circumstances that will
occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from those
expressed or implied by these forward-looking statements, including
factors that are outside Diageo's control. Any forward-looking
statements made by or on behalf of Diageo speak only as of the date
they are made. Diageo does not undertake to update forward-looking
statements to reflect any changes in Diageo's expectations with
regard thereto or any changes in events, conditions or
circumstances on which any such statement is based.
An explanation of non-GAAP measures, including organic
movements, is set out on page 74 of Diageo's Annual Report for the
year ended 30 June 2021.
Diageo plc LEI: 213800ZVIELEA55JMJ32
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