Diageo is planning to launch a whisky based premium mixed drink at the beginning of 2002. A launch date for J&B Twist will be announced before Christmas. The 5.6% abv drink is currently on test in Spain. Well before then the group hopes to have sorted out the supply problems of its latest pps launch Archer's Aqua.This has been on allocation to the trade following demand which exceeded Diageo's targets. Chief executive Paul Walsh said he expected the issue to be resolved by October and plans to roll the drink out to Ireland and North America. At its full year results conference on Thursday Walsh said he did not know when the US Federal trade commission would rule on Diageo's $5 billion acquisition of a majority share in Seagram's spirits and wine business. Diageo announced total sales up 5% for the year ending June 30 from £11.9 bn in 2000 to £12.8bn. Pre tax profit had risen from £1.82bn last year to £1.98bn, driven by 14% organic growth in operating profits from its eight core premium brands, including Guinness and Baileys, in its major markets ­ North America Great Britain Ireland and Spain. This week Diageo announced the sale of its fortified wines, Croft and Delaforce for £50.5m. {{NEWS }}