Finance

Profits and sales up for Diageo as more people drink spirits

By Linda Hall • 01 February 2023 • 20:11

SPIRITS: Increased sales increased Diageo’s profits Photo credit: Pixabay/blickpixel

ALCOHOLIC drinks brand Diageo exceeded first-half predictions as prices rose and people drank more spirits.

Organic net sales rose by 9.4 per cent instead of a predicted 7.9 per cent in the six months to 31 December for the London-based multinational which makes Tanqueray gin, Captain Morgan rum and Ketel One vodka.

Net sales during the same period rose 18.4 per cent to £9.4 billion (€10.6 billion).

The group will return approximately £500 million (€563 million) to shareholders in addition to this financial year’s buyback commitment.

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