Diageo achieved 6% organic net sales growth in first quarter of 2012 with emerging markets and a recovery in the US compensating for a poor performance in Europe and the UK.
The London-based alcoholic drinks group gained as markets in Latin America, Africa and Asia showed strong demand for its range of drinks, a US recovery gathered steam while in Europe, Spain and Greece were in decline.
Organic net sales growth, by region, for the nine month period:
- North America 5%
- Europe (1)%
- Africa 12%
- Latin America and Caribbean 18%
- Asia Pacific 10%
“Trading in the third quarter remained strong with the year-to-date performance in line with the first half and our expectations,” said Chief Executive Paul Walsh.
Last week Pernod Ricard, Diageo’s biggest rival, reported a 3% rise in its third-quarter sales. According to City AM, its growth was limited by the early Chinese New Year and by French consumers stocking up ahead of a tax rise which boosted sales in the closing months of 2011 at the expense of early 2012.
