Irish net sales up 3% at Diageo

‘Guinness’ sales – defined as ‘Guinness-branded products’ including Harp Lager, Kilkenny Ale, Smithwicks Ale and Hophouse 13' were up 2%  “driven by the continued success of Hop House 13 Lager and the launch of the ‘Behind every town’ campaign”, according to Diageo’s Preliminary Results for the year to 30th June 2018 published recently.

Diageo’s spirits sales here were up 14% net driven by a strong performance from Gordon’s and Tanqueray.

Reported global net sales/turnover at Diageo plc was up by just under 1% to £12.2 billion from £12.1 billion the previous year while operating profit jumped 3.7% to £3.7 billion as organic growth, at 7.6%, was partially offset by adverse exchange rates.

While reported volumes were down by 0.7%, organic volumes showed growth of 2.5%, reports the company.

All regions contributed to the broad-based organic growth, with organic net sales up 5.0% and organic volume up 2.5%. Organic operating profit was up 7.6%.

The Board also approved a share buyback programme to return up to £2.0 billion to shareholders during the year to the 30th June 2019.