Saturday, September 16, 2023

Diageo dives

Alcohol giant Diageo reports on a disappointing year

 

The drinks titan Diageo have blamed the Chinese government cracking down on the gifting of expensive whiskies to officials, a fall in demand for the Chinese spirit Baiju and beer drinkers trading down to cheaper brands in Nigeria and Thailand for a disappointing set of results.

 

Diageo's portfolio is vast and includes many well known brands such as J&B and Baileys
Diageo’s portfolio is vast and includes many well known brands such as J&B and Baileys

 

To attempt to rectify this situation Diageo plan to cut their costs by some £200 million of cost cuts, pushing more expensive brands and leveraging the US recovery. Despite this, the company has some room for optimism as though sales fell 1% in reported terms, pre-tax profits rose 11% to £2.1 billion.

 

Ivan Menezes, the company’s chief executive, stated that it had been a “tough half” year and that he is “cautious” and about the remainder. He added: “Volatility in emerging markets is not going to go away in a hurry”.

 

 

Subscribe to our free once daily email newsletter here:

     

    The Steeple Times
    The Steeple Times
    We research and background check our articles. If you believe we have made and error in some detail please get in touch, we seek always to write the truth and stand against a press owned by a self selected few. Please help us, we will accept all your likes, subscriptions and anonymous suport. The Editor and his team at the Steeple Times.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    £1 per week Supports The Steeple Times

    Help journalism to remain honest & independent. You can make a difference to the world today.

    3,573FansLike
    2,068FollowersFollow
    16,679FollowersFollow
    4,962SubscribersSubscribe

    Subscribe For DAILY NEWS

    Please subscribe, like and share this unique site, it helps us tremendously. The Steeple Times in return will send you an email at noon each and everyday, that we sincerely hope you will enjoy & look forward to seeing in your inbox.

    AD
    Advertisement

    Trending Now

    ‘Comeback King’ Kevin Spacey – Actor Seeks To “Leave The Nonsense Behind”

    As Kevin Spacey’s eccentric ‘friend’ Geoffrey Mark claims the “exonerated” actor will now “leave the nonsense behind” and begin his comeback, we remind of his friendships with ‘curious sorts’ including Prince Andrew, Jeffrey Epstein, Ghislaine Maxwell and Harvey Weinstein.

    Summer Silly Season Stories 2023 – ‘The Steeple Times’ Is Back

    Matthew Steeples highlights the stories he’s been following during the ‘silly season’ summer of 2023 – amongst them matters Ghislaine Maxwell and Rudy Giuliani and podcasts about ‘true crime’ as a genre.

    Most Popular Articles

    Was Mucky Minx Meghan Markle A ‘Yacht Girl’ For ‘Randy Andy’?

    As author Kirby Sommers suggests that the then Meghan Markle likely spent time with Prince Andrew and Jeffrey Epstein before she met Prince Harry, we again highlight the mucky, murkiness and mendacious manner of this alleged “yacht girl.”

    Most Liked...

    Big Zuu (Birth Name – Zuhair Hassan)

    Big Zuu Zuhair Hassan
    A rapper and grime MC turned TV star of ‘Big Zuu’s Big Eats,’ Zuhair Hassan is an example of a youngster with infectious positivity and great talent. A modern-day Keith Floyd in the making.

    Nasty NestSeekers

    Nasty NestSeekers – Realtor turned alleged squatter Jonathan Davis – Entitled Hamptons brat Jonathan Davis exposed for allegedly squatting in a house in Sag Harbor owned by Paula Rosado during the coronavirus lockdown; it turns out he’s a realtor with NestSeekers.
    Entitled Hamptons brat Jonathan Davis exposed for allegedly squatting in Sag Harbor during the coronavirus lockdown; it turns out he’s a realtor with NestSeekers.

    SW3’s Smallest – Smallest Stand-Alone House In Chelsea For Sale For...

    SW3’s Smallest – Smallest Stand-Alone House In Chelsea For Sale For Staggering Sum
    Smallest stand-alone house in Chelsea for sale for 100% more than it was offered for in 2017; there’s barely room to swing a cat.

    Cut The Conspiracy Claptrap – Crazy Theories About The Deaths Of...

    Cut The Conspiracy Claptrap
    Matthew Steeples suggests that the crazy conspiracy claptrap that has followed in the wake of the death of Her Majesty The Queen and the ongoing nonsense that circulates online about Jeffrey Epstein is exactly that; crazy claptrap.

    ‘Comeback King’ Kevin Spacey – Actor Seeks To “Leave The Nonsense...

    ‘Comeback King’ Kevin Spacey – Actor Seeks To “Leave The Nonsense Behind”
    As Kevin Spacey’s eccentric ‘friend’ Geoffrey Mark claims the “exonerated” actor will now “leave the nonsense behind” and begin his comeback, we remind of his friendships with ‘curious sorts’ including Prince Andrew, Jeffrey Epstein, Ghislaine Maxwell and Harvey Weinstein.