Guinness brewer Diageo posts unexpected rise in quarterly organic net sales
Diageo posted an unexpected rise in quarterly organic net sales after a slower-than-expected decline in its key North America market as CEO Dave Lewis called the first-quarter results a small step in the right direction.
The Johnnie Walker whisky and Guinness beer maker posted organic net sales growth of 0.6% for the three months ended September 30, compared with a 0.4% decline expected by analysts in a company-compiled poll. Organic net sales declined 3.6% in North America, its largest market, compared with a 6.7% drop expected by analysts.
The world's largest spirits maker kept its organic net sales outlook broadly flat for the year.
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