Diageo has hit the ground running in its new financial year, with first-quarter sales up 9% in the three months to 30 September and volumes up 5%.
Sales were buoyed to the tune of £29m by the acquisition of Turkish spirits group Mey Icki, while Johnnie Walker continued to grow rapidly in emerging markets.
North America, where volumes again fell slightly, and Europe continued to lag the Guinness brewer's performance in developing markets, with sales up by 5% and 6% respectively in the regions.
“We have delivered positive price/mix in North America, an improvement in net sales growth in Europe and strong growth in the developing markets,” said chief executive Paul Walsh, adding that growth for the first half of the year would be up on the equivalent period last term.
Walsh added: “The sharpened focus we have brought to our investment in marketing, innovation and sales… underpins our confidence in the performance of the business.”
Former Diageo GB boss Litherland to join Britvic (24 September 2011)
Focus On Spirits (17 September 2011)
Diageo's virtual drinks aisle (analysis; 10 September 2011)