Diageo organic sales blow past estimates on strong U.S. demand
(Reuters) – Spirits group Diageo on Thursday reported a better-than-expected rise in full-year organic net sales growth, helped by the reopening of bars and restaurants in some markets and strong retail demand across all its regions.
Organic net sales, which excludes the impact of acquisitions and foreign exchange, rose 20% in North America, the company’s biggest market, where consumers traded up to more premium spirits including Tequilas and higher-end versions of Johnnie Walker Scotch whiskey.
Turkey and Northern Europe also contributed to the strong performance, with sales growing more than 20%, driven by demand for scotch whiskies.
Spirits maker Diageo s sales exceed estimates on strong U S demand
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