Sunday Times E-Edition

Johnnie Walker maker Diageo lifts spirits

Johnnie Walker maker Diageo’s sales rose more than expected in the six months to December, helped by the end of Covid restrictions and resilience in the face of higher inflation, which has stretched consumer budgets. Sales rose 9.4% organically compared to 8% growth expected by analysts.

Diageo’s case to investors is that pricey spirits are resilient in the face of a downturn because they don’t represent a large proportion of a household budget and can often be seen as affordable luxuries. High-end brands were responsible for two-thirds of sales growth, the company said.

Business | What A Week

en-za

2023-01-29T08:00:00.0000000Z

2023-01-29T08:00:00.0000000Z

https://times-e-editions.pressreader.com/article/282282439436091

Arena Holdings PTY