Diageo Backs Fiscal Year 2024 Views Despite Persistent Cost Pressures
28 September 2023 - 4:51PM
Dow Jones News
By Michael Susin
Diageo said expectations for fiscal 2024 remain unchanged
despite warning of persistent continuing cost pressures and
macroeconomic challenges.
The liquor maker--which owns Johnnie Walker whisky and Tanqueray
gin--on Thursday said it expects a gradual improvement on both
organic net sales and operating profit growth from the first half
of the fiscal year ending June 30 and then an acceleration in the
second half, given softer comparators.
Diageo said it is well-positioned to deliver its 2023-25
guidance for organic net sales growth of 5% to 7% a year and
organic operating profit growth of 6% to 9% a year.
"I am confident in the resilience of our business and our
ability to navigate these headwinds while executing our strategic
priorities," Chief Executive Debra Crew said.
The company changed its reporting and dividend currency to U.S.
dollar from the pound at the start of fiscal 2024.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
September 28, 2023 02:36 ET (06:36 GMT)
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