30th Jul 2015 06:16
LONDON (Alliance News) - Diageo PLC Thursday reported a rise in profit in its recently-ended financial year as sales grew and it increased its dividend for the year saying it believes it will continue to deliver a strong and sustained performance.
The FTSE 100-listed drinks giant reported a pretax profit in the year ended June 30 of GBP2.93 billion, up from the GBP2.71 billion it reported the year before, as revenue grew to GBP16 billion from GBP14 billion.
Diageo will pay a total dividend of 56.4 pence for the year, an increase of 9% on the 51.7p it paid the year before.
"We are delivering the change which will further strengthen this business and deliver our performance ambition. In 2016 we believe stronger volume growth will deliver an improved top line performance. As we achieve our productivity gains from 2017 we expect to deliver mid single digit organic top line growth on a sustained basis and operating margin expansion of 100 basis points over three years. Our brands, our global footprint and our people give me confidence that Diageo can deliver strong and sustained performance," Chief Executive Ivan Menezes said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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