Scotch Sales Keep Diageo Off The Rocks

03 September 2007

LONDON: Diageo claims its best financial results ever, with full-year profits totalling £2.16 billion ($4.4bn; €3.2bn) - over 5% up on the previous twelve months - helped in particular by strong sales of scotch.

Overall sales volumes rose by 6%, and revenues by 3% to nearly £7.5bn, with around 15 million cases of Johnnie Walker being sold in 2007, amounting to nearly 50% of its scotch total.

Its Guinness beer brand, on the other hand, managed to offset a 5% decline in the UK and a 9% dip in Ireland with strong sales in Africa - sales in Nigeria now eclipse those in the Emerald Isle!

Cfo Nick Rose, however, sounded a note of caution, predicting that 2008 might be "a tough year" for the company as rising prices for barley, corn, malt and glass could exert a "net inflationary impact".

Data sourced from Financial Times Online; additional content by WARC staff