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Diageo full-year profit up 17 pct as margins rise

Diageo full-year profit up 17 pct as margins rise

Diageo PLC, the world's largest maker of spirits, has reported a 17 percent rise in full-year profit, boosted by increased sales of higher-priced brands and a reduced tax bill.
For the year ending June 30, the maker of Johnnie Walker whisky and Guinness stout reported a profit of 1.9 billion pounds ($3.1 billion), up from 1.63 billion pounds a year earlier.
Sales rose 2 percent to 9.94 billion pounds. The tax rate fell from 21 percent to 14.5 percent.
Diageo reported improved margins driven by a 24 percent increase in sales of premium "reserve brands" including Johnnie Walker, Kenel One vodka and Tanqueray No. 10 gin.
Sales rose 3 percent in North America, 9 percent in Asia Pacific and 13 percent in other international markets but dropped 3 percent in Europe.


Updated : 2021-10-16 10:02 GMT+08:00