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Revised segmental information

10th Jan 2012 07:00

RNS Number : 2541V
Diageo PLC
10 January 2012
 



Revised segmental information for prior reporting periods

On 25 May 2011 Diageo announced changes to its reporting regional structure. From 1 July 2011 two autonomous regions, Diageo Latin America and Caribbean and Diageo Africa, replaced the International region. The Global Travel and duty free operations are now reported within the five geographical regions in which the external sales take place. The Middle East business has become part of Asia Pacific.

As a result of this change Diageo now reports the following operating segments externally:

·; North America

·; Europe

·; Africa

·; Latin America and Caribbean

·; Asia Pacific

·; Corporate

In addition, for the year ending 30 June 2012, changes have been made to the allocation of specific corporate items better reflecting the geographic segments for which they are in respect of.

As a consequence of these changes the figures for the operating segments for prior periods have been restated.

Revised segmental information for the years ended 30 June 2011 and 2010 and the six month period ended 31 December 2010 are provided below.

In addition, organic growth percentages by segment have been restated for the year ended 30 June 2011.

 

Volume

Year ended 30 June 2011

Year ended 30 June 2010

As

reported

units million

Analysis of

International

units

million

 

Restated

units million

As

reported

units million

Analysis of

International

units

million

 

Restated

units million

North America

51.6

0.7 

52.3

51.8

0.7 

52.5

Europe

38.5

2.0 

40.5

39.2

2.1 

41.3

International

44.3

(44.3)

-

40.3

(40.3)

-

Africa

-

23.1 

23.1

-

21.1 

21.1

Latin America and Caribbean

 

-

 

15.7 

 

15.7

 

-

 

14.1 

 

14.1

Asia Pacific

13.1

2.8 

15.9

12.1

2.3 

14.4

147.5

147.5

143.4

143.4

 

Six months ended 31 December 2010

As

reported

units million

Analysis of

International

units

million

 

Restated

units million

North America

28.0

0.3 

28.3

Europe

21.5

1.0 

22.5

International

22.7

(22.7)

-

Africa

-

11.7 

11.7

Latin America and Caribbean

 

-

 

8.3 

 

8.3

Asia Pacific

6.8

1.4 

8.2

 79.0

 79.0

 

Sales

Year ended 30 June 2011

Year ended 30 June 2010

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

North America

3,853

42 

3,895

3,853

34 

3,887

Europe

4,190

89 

4,279

4,371

89 

4,460

International

3,384

(3,384)

-

3,222

(3,222)

-

Africa

-

1,764 

1,764

-

1,582 

1,582

Latin America and Caribbean

 

-

 

1,293 

 

1,293

 

-

 

1,364 

 

1,364

Asia Pacific

1,735

196 

1,931

1,442

153 

1,595

Corporate

70

70

70

70

13,232

13,232

12,958

12,958

 

Six months ended 31 December 2010

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

North America

2,094

20 

2,114

Europe

2,312

45 

2,357

International

1,773

(1,773)

-

Africa

-

907 

907

Latin America and Caribbean

 

-

 

708 

 

708

Asia Pacific

915

93 

1,008

Corporate

38

38

7,132

7,132

 

 

Net sales

Year ended 30 June 2011

Year ended 30 June 2010

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

North America

3,324

42 

3,366

3,306

34 

3,340

Europe

2,614

89 

2,703

2,759

89 

2,848

International

2,747

(2,747)

-

2,627

(2,627)

-

Africa

-

1,357 

1,357

-

1,228 

1,228

Latin America and Caribbean

 

-

 

1,063 

 

1,063

 

-

 

1,123 

 

1,123

Asia Pacific

1,181

196 

1,377

1,018

153 

1,171

Corporate

70

70

70

70

9,936

9,936

9,780

9,780

 

Six months ended 31 December 2010

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

North America

1,807

20 

1,827

Europe

1,444

45 

1,489

International

1,415

(1,415)

-

Africa

-

689 

689

Latin America and Caribbean

 

-

 

568 

 

568

Asia Pacific

616

93 

709

Corporate

38

38

5,320

5,320

 

Marketing spend

Year ended 30 June 2011

Year ended 30 June 2010

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

North America

502

508

472

476

Europe

390

13 

403

412

10 

422

International

368

(368)

-

302

(302)

-

Africa

-

140 

140

-

119 

119

Latin America and Caribbean

 

-

 

184 

 

184

 

-

 

151 

 

151

Asia Pacific

278

25 

303

233

18 

251

1,538

1,538

1,419

1,419

 

Six months ended 31 December 2010

As

reported

£ million

Analysis of

International

£ million

 

Restated

£ million

North America

268

270

Europe

225

230

International

177

(177)

-

Africa

-

73 

73

Latin America and Caribbean

 

-

 

84 

 

84

Asia Pacific

143

13 

156

813

813

 

Operating profit before exceptional items

Year ended 30 June 2011

Year ended 30 June 2010

As

reported

£ million

Analysis of

International

£ million

Corporate

costs

£ million

 

Restated

£ million

As

reported

£ million

Analysis of

International

£ million

Corporate

costs

£ million

 

Restated

£ million

North America

1,255 

17 

1,275 

1,170 

13 

1,184 

Europe

778 

28 

(10)

796 

859 

30 

(8)

881 

International

804 

(804)

771 

(771)

Africa

330 

333 

304 

(3)

301 

Latin America and Caribbean

 

 

336 

 

(18)

 

318 

 

 

355 

 

(19)

 

336 

Asia Pacific

208 

93 

(2)

299 

176 

69 

(5)

240 

Corporate

 (161)

24 

 (137)

 (225)

34 

 (191)

2,884 

2,884 

2,751 

2,751 

 

Six months ended 31 December 2010

As

reported

£ million

Analysis of

International

£ million

Corporate

costs

£ million

 

Restated

£ million

North America

723 

735 

Europe

471 

15 

(2)

484 

International

468 

(468)

Africa

174 

176 

Latin America and Caribbean

 

 

227 

 

(9)

 

218 

Asia Pacific

129 

43 

(2)

170 

Corporate

(64)

(56)

1,727 

1,727 

 

Organic growth for the year ended 30 June 2011

Volume

Sales

Net sales

Increase/(decrease)

As reported

Restated

As reported

Restated

As reported

Restated

%

%

%

%

%

%

North America

Europe

(2)

(2)

(3)

(3)

(3)

(3)

International

n/a

14 

n/a

13 

n/a

Africa

n/a

7

n/a

11 

n/a

10 

Latin America and Caribbean

 

n/a

 

12

 

n/a

 

18 

 

n/a

 

17 

Asia Pacific

 10

 13 

 13 

 11 

Total

3

Marketing spend

Operating profit*

Increase/(decrease)

As reported

Restated

As reported

Restated

%

%

%

%

North America

Europe

(4)

(3)

(7)

(8)

International

23 

n/a

19 

n/a

Africa

n/a

15 

n/a

18 

Latin America and Caribbean

 

n/a

 

27 

 

n/a

 

22 

Asia Pacific

 13 

 15 

 13 

 20 

Total

* Operating profit before exceptional items

Net sales are after deducting excise duties. See the company's annual report on Form 20-F for the year ended 30 June 2011 filed with the US Securities and Exchange Commission (SEC) for an explanation of organic movement calculations and further definitions, disclosures and information.

 

Contacts

Investor enquiries to: Sarah Paul +44 (0) 20 8978 4326

Angela Ryker Gallagher +44 (0) 20 8978 4911

investor.relations@diageo.com

Media enquiries to: Stephen Doherty +44 (0) 20 8978 2528

Kirsty King +44 (0) 20 8978 6855

media.comms@diageo.com 

 

Editor notes

Diageo is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, beer and wine. These brands include Johnnie Walker, Crown Royal, JεB, Buchanan's, Windsor and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Baileys, Captain Morgan, Jose Cuervo, Tanqueray and Guinness.

Diageo is a global company, with its products sold in more than 180 countries around the world. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE). For more information about Diageo, its people, brands, and performance, visit us at Diageo.com. For our global resource that promotes responsible drinking through the sharing of best practice tools, information and initiatives, visit DRINKiQ.com.

Celebrating life, every day, everywhere.

 

Forward-looking statements

This document contains 'forward-looking statements'. These forward-looking statements can be identified by the fact that they do not related only to historical or current facts. In particular, forward looking statements include all statements that express forecasts, expectations, plans, outlook and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability or cost of financing to Diageo, anticipated cost savings or synergies, the completion of Diageo's strategic transactions and restructuring programmes, anticipated tax rates, expected cash payments, outcomes of litigation, anticipated deficit reductions in relation to pension schemes and general economic conditions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including factors that are outside Diageo's control. All oral and written forward-looking statements made on or after the date of this document and attributable to Diageo are expressly qualified in their entirety by the 'risk factors' contained in Diageo's annual report on Form 20-F for the year ended 30 June 2011 filed with the US Securities and Exchange Commission (SEC). Any forward-looking statements made by or on behalf of Diageo speak only as of the date they are made. Diageo does not undertake to update forward-looking statements to reflect any changes in Diageo's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Diageo may make in any document it publishes and/or files with the SEC. All readers, wherever located, should take note of these disclosures. The information in this document does not constitute an offer to sell or an invitation to buy shares in Diageo plc or an invitation or inducement to engage in any other investment activities. Past performance cannot be relied upon as a guide to future performance.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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