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May 12, 2021, 10:06 am
Johnnie Walker-to-Guinness drinks giant Diageo has restarted its plan to return up to £4.5bn of cash to investors as it continues to bounce back from the pandemic (Andrew Milligan/PA)
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Johnnie Walker-to-Guinness drinks giant Diageo has restarted its plan to return up to £4.5 billion of cash to investors as it continues to bounce back from the pandemic.
The group, which also makes Smirnoff vodka and Baileys, said it now expects full-year earnings growth of at least 14% as sales have staged a further recovery since its first half.
Britvic, Tate & Lyle and Diageo post financial updates Out-of-home declines at Britvic offset sales growth in at-home products in its first quarter (Q1), Tate & Lyle s primary product sales rose in the three months to 31 December and Diageo reported dented interims.
On a comparable basis of constant currency and excluding the disposal of the French private label juice business, Britvic s global sales fell 5.8% on last year s Q1. In Great Britain, total revenue declined 4.1%, with strong At-Home growth of 11.9% offset by a decline of 32.5% in Out-of-Home. Sales in Brazil continued to grow strongly at 25.6%, whereas comparable revenue in the rest of the world fell by 19.3%.
Diageo outperforms with strong off-licence sales 28/01/2021, 11:37 am
Drinks sales fell due to the Covid-19 pandemic but off-trade business was strong at Diageo, the company said (World Class/PA)
Global drinks giant Diageo managed to preform better than expected as heavy falls in sales from pubs closures and fewer airport passengers were partially offset by supermarket and off-licence trade.
The company behind Johnnie Walker, Guinness and Baileys said net sales in the six months to the end of 2020 fell 4.5% to £6.9 billion, with pre-tax profits down 8.3% to £2.2 billion.
In the UK, net sales grew 2%, with sales in supermarkets and off-licences offsetting the fall from pub closures during long periods.
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