Diageo’s Global Shake‑up: Latin America Slumps, UK Cheers Guinness
It’s a mixed bag for the booze giant: sales trend down in Latin America, but in Britain the old red‑black pint is pulling up the slack.
The Latin America & Caribbean Downturn
- Over the last six months, net sales dipped as demand in Latin America & Caribbean went on a sudden chill.
- Operating profit fell 11.1% to £2.6 billion, a clear sign the markets are feeling the pinch.
UK’s Guinness‑Fueled Lift
- While the rest of the globe is fainting, Guinness is showing rocking‑steady sales in the UK.
- Consumers are choosing the older, friendlier pint over pricey alternatives, giving Diageo a comforting boost.
Leadership’s Take
CEO Debra Crew said: “Even with global volatility, we’re projecting better organic net sales and operating profit growth for the second half of fiscal 2024.”
She added confidence that the company’s diversification across categories, prices and regions keeps it resilient for the long haul. And she’s all about investing in iconic brands to stay ahead in the beverage arena.
Bottom Line
- Diageo’s shares dipped on the day as investors watched the price‑savvy drinkers take over.
- But with a strong UK brand and diversified portfolio, the company is gearing up to ride out the storm.
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