Diageo Expects Margins to Benefit From Recovery in Volumes
September 30 2021 - 2:42AM
Dow Jones News
By Jaime Llinares Taboada
Diageo PLC said Thursday that it has had a strong start to the
fiscal year, and that it expects organic operating margins to
benefit from a further recovery in sales volumes.
The world's largest liquor maker--which owns Johnnie Walker
whisky and Tanqueray gin--also expects near-term volatility to
remain, including the impact of future waves of Covid-19.
Diageo said its North American business is performing strongly
despite some supply-chain constraints. The European business is
recovering ahead of expectations, with robust off-trade demand.
Africa, Asia Pacific and Latin America-Caribbean are performing
well, but volatility is likely to persist, Diageo said. As for
travel retail, the business continues to be disrupted.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 30, 2021 02:27 ET (06:27 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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