Diageo says Europe is weak

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald DIAGEO, the world’s biggest spirits group, said trading in Europe was weaker as it met forecasts with a five per cent rise in first-quarter underlying sales driven by growth in emerging markets.The maker of Smirnoff vodka, Captain Morgan rum and Guinness also stuck to its forecast to see higher profit growth this year than last as Russia, Latin America, Africa and Asia help offset difficult conditions in Europe. Chief executive Paul Walsh said the group faced tough trading in Greece, and Spanish net sales were down markedly year-on-year, reflecting the debt crisis crippling these southern European economies.“The consumer environment in Europe is slightly weaker than we expected in the prior year,” Walsh said in a trading update for its July-September first quarter and ahead of its annual general meeting. The European region produces nearly a third of the group’s profit. Spain is one of Diageo’s three key markets in Europe along with Britain and Ireland, which together make up over half of the group’s European sales. The group reported a strong performance from operations in Latin America, Africa and Asia Pacific, while North America posted stronger growth than in the previous year.“The company is seeing a slightly improved growth trend in the US market which in very encouraging… However the European consumer environment has deteriorated versus last year driven by weakness in Greece and Spain,” said analyst Anthony Bucalo at brokers Credit Suisse. whatsapp Diageo says Europe is weak Thursday 14 October 2010 8:26 pm Sharecenter_img KCS-content Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Tags: NULLlast_img