Diageo: confirms medium-term targets

(CercleFinance.com) - On Thursday, Diageo confirmed its medium-term targets ahead of its AGM, the first held by the world's number one spirits company since the death of its emblematic boss, Ivan Menezes, earlier this year.


The British group, now headed by in-house executive Debra Crew, reiterated its organic sales growth target range of 5% to 7% by 2025.

Meanwhile, it expects operating profit to grow by 6% to 9% organically over FY 2023/2024 and FY 2024/2025.

CEO Debra Crew stated that she expected difficulties to persist in view of cost pressures and geopolitical and economic uncertainties.

In this environment, the maker of Captain Morgan rum and Guinness beer plans to demonstrate "speed" and "agility", while continuing to invest in marketing and innovation, she said.

Unconvincing though - following these statements, Diageo's shares were down 0.4% on Thursday morning on the London Stock Exchange, in the bottom half of the benchmark FTSE 100 index.


Copyright (c) 2023 CercleFinance.com. All rights reserved.