17th Oct 2006 12:00
Diageo PLC17 October 2006 17 October 2006 DIAGEO CONFIRMS GUIDANCE FOR ORGANIC OPERATING PROFIT GROWTH OF AT LEAST 7% FOR 2007 FISCAL YEAR. Diageo will hold its AGM at 2.30pm today at The Queen Elizabeth II ConferenceCentre, Broad Sanctuary, Westminster, London SW1. At the meeting Paul Walsh,Chief Executive of Diageo, will make the following comments on the currentfinancial year: 'At our results presentation in August I said we expected organic net salesgrowth in the 2007 fiscal year to be in line with the 6% we achieved in the yearended June 2006 and that we planned to deliver organic operating profit growthof at least 7% for the fiscal year ending June 2007. 'Trading in the first quarter supports that guidance and therefore we reiteratethat fiscal 07 guidance this afternoon. 'In North America, in this first quarter Diageo has again gained share in abeverage alcohol market which continues to benefit from positive demographicsand the consumer's preference for premium brands. 'In Europe we have delivered a stronger performance in continental Europe anddouble digit top line growth in Russia but this has been offset by weakness inthe Spanish premium drinks market and slower sales of Guinness in Ireland andGreat Britain. 'In International we have delivered further strong top line growth in the firstquarter. While our Middle East and global travel business has faced somespecific challenges in the quarter this was offset by continued strong growth inLatin America. 'We ended the 2006 fiscal year with well-positioned brands and a more efficientand effective organisation and we will build on those achievements in thecurrent fiscal year. We believe that this is the platform from which Diageo canconsistently deliver our top and bottom line goals. ' -ends- For further information Investors enquiries: Sandra Moura +44 (20) 7927 4326 Darren Jones +44 (20) 7927 4223 Kelly Padgett +1 202 715 1110 [email protected] Media enquiries: Isabelle Thomas +44 (20) 7927 5967 [email protected] Notes to Editor: Diageo is the world's leading premium drinks business. With its global visionand local marketing focus, Diageo brings to consumers an outstanding collectionof beverage alcohol brands across the spirits, wine and beer categoriesincluding Smirnoff, Guinness, Johnnie Walker, Baileys, J&B, Cuervo, CaptainMorgan and Tanqueray as well as Beaulieu Vineyard and Sterling Vineyards wines.Diageo trades in some 180 countries around the world and is listed on both theNew York Stock Exchange (DEO) and the London Stock Exchange (DGE). For moreinformation about Diageo, its people, brand and performance, visit us atwww.diageo.com. This document contains certain forward-looking statements within the meaning ofSection 27A of the US Securities Act of 1933 and Section 21E of the USSecurities Exchange Act of 1934. These forward-looking statements can beidentified by the fact that they do not relate only to historical or currentfacts. In particular, all statements that express forecasts, expectations andprojections with respect to future matters, including trends in results ofoperations, margins, growth rates and overall market trends are forward-lookingstatements. By their nature, forward-looking statements involve risk anduncertainty because they relate to events and depend on circumstances that willoccur in the future. Diageo does not undertake to update forward-lookingstatements to reflect any changes in events, conditions or circumstances onwhich any such statement is based. The reader should, however, consult anyadditional disclosures that Diageo may make in documents it files with the USSecurities and Exchange Commission. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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