Diageo affirms sales targets, but warns not immune on global trade shifts
Drinks company Diageo warned it was not immune to changes in global trade policy but expected to meet net sales and operating profit growth targets.
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Chief executive Ivan Menezes said organic net sales growth "based on the current environment" would be toward the mid-point of the 4% - 6% range, with organic operating profit growing roughly one percentage point ahead of organic net sales.
This was consistent with medium-term objectives laid out in Diageo's results for the year ended 30 June, but will represent a slight slowdown after last year's organic net sales grew by 6.1% following increases across all beverage categories except rum, Menezes said ahead of the company's annual shareholder meeting on Thursday.
(Writing by Frank Prenesti; Editing by Michele Maatouk and Josh White)