By Alec Mattinson2021-01-28T09:08:00+00:00
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Global spirits giant Diageo has shrugged off the closure of pubs and bars across the world and a slump in travel retail to post a rise in organic sales, but profits were hit by unfavourable currency movements.
The maker of Johnnie Walker and Guinness reported a 1% rise in organic net sales, driven by a 1.2% increase in price/mix amid a slight 0.2% fall in volume.
Net sales benefitted from the replenishment of stock levels by distributors and retailers in certain markets, mainly North America, albeit partially offset by continued customer de-stocking in travel retail.