Diageo turnaround plan soothes investors but some doubts remain cyprus-mail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cyprus-mail.com Daily Mail and Mail on Sunday newspapers.
Diageo's attempt to reassure investors about its strategy in Latin America has boosted confidence among some that the world's top spirits maker can revive its performance after a profit warning, but doubts remain for others. Investors watched closely as the maker of Tanqueray gin and Johnnie Walker whisky reported its first-half results last week after a November warning shook confidence in the company and its management led by new Chief Executive Debra Crew. Diageo's warning was driven by a sharp decline in sales in Latin America as consumers switched to cheaper booze, leaving the company with a build up of unsold stock that it admitted only became clear at a relatively late stage.
Diageo
faces a battle to win back some investors trust following last
month s profit warning as the Johnnie Walker whisky and
Tanqueray gin maker tries to revive its struggling Latin
American.