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19 SEP 2019

19 SEP 2019 Press release

Press release

Diageo issues trading commentary ahead of AGM 2019

Ivan Menezes, Chief Executive, commented:

“Fiscal 20 has started well as we continue to build on the momentum and consistent progress we are making in the execution of our strategy. Our focus remains on delivering quality sustainable growth. This is supported by a culture of everyday efficiency that enables us to invest smartly in marketing and growth initiatives while expanding margins.

Based on the current environment, we continue to expect fiscal 20 organic net sales growth to be toward the mid-point of the 4% to 6% range and organic operating profit growing roughly one percentage point ahead of organic net sales. This is consistent with what we are targeting over the medium-term. Due to a strong prior year comparable, for the first half we expect organic operating profit growth to be in-line with or slightly behind organic net sales growth. However, we would not be immune from significant changes to global trade policy and continue to monitor this closely.”

ENDS

Enquiries

Media relations:

Jessica Rouleau

+44 (0)7925 642561

press@diageo.com

Investor relations:

Andrew Ryan

+44 (0)20 8978 6504

investor.relations@diageo.com

About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits and beer categories.  These brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180 countries around the world.  The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).  For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com.  Visit Diageo’s global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice.

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