Diageo: market cheers MT growth ambitions
(CercleFinance.com) - At its CMD in London today, Diageo will outline its new medium-term direction, with it expecting to achieve organic net sales growth of 5%-7%, along with organic operating profit growth of 6%-9% for 2023 through 2025.
The spirits specialist aims to increase its total market share in the alcoholic beverage market by 50% from 4% in 2020 to 6% in 2030. Thanks to continued investment in marketing, digital capabilities and its people, it says that it has significant room for growth.
It adds that strong organic net sales growth of at least 16% is expected in the H1 2022, with over 16% growth in organic operating profit.
Investors have raised a glass to these upbeat comments, with the share currently up around 2.5% in London.
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