Diageo Fiscal Year 2021 Profit, Revenue Rose
29 July 2021 - 5:05PM
Dow Jones News
By Matteo Castia
Diageo PLC reported Thursday a rise in pretax profit for fiscal
2021 on higher net sales.
The world's largest liquor maker--which owns Johnnie Walker
whisky and Tanqueray gin--made a pretax profit of 3.71 billion
pounds ($5.16 billion) for the year ended June 30, compared with
GBP2.04 billion in fiscal 2020.
A consensus estimate taken from FactSet and based on eight
analysts' projections expected Diageo's fiscal 2021 pretax profit
to be GBP3.63 billion.
Net sales rose to GBP12.73 billion from GBP11.75 billion a year
earlier. The company said the progress was led by the American
market, its largest business area.
A consensus estimate taken from FactSet and based on 19
analysts' projections expected Diageo's fiscal 2021 net sales to
come in at GBP12.57 billion.
The board declared a final dividend of 44.59 pence a share,
taking the full-year payout to 72.55 pence.
The FTSE 100 company said it expects continued net sales
momentum in fiscal 2022 and that it will benefit from weak
comparatives for off-trade consumption despite a likely slowdown in
that sector's growth rate.
Diageo said it also anticipates negative currency
effects--including a stronger pound sterling--to hurt net sales and
operating profit in fiscal 2022.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
July 29, 2021 02:52 ET (06:52 GMT)
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