China and other emerging market boost Johnnie Walker
By 2011-8-26 17:49:32
The world’s largest spirits company by turnover on Thursday reported that full-year group net sales rose 2 per cent to £9.9bn and volumes edged up 3 per cent, driven by growth in emerging markets.
Sales of Johnnie Walker rose 20 per cent at Diageo’s international division, aided by double-digit increases in sales of scotch and vodka in Brazil.
Diageo spent £1.6bn in the year on expanding its presence in emerging markets, buying stakes in Serengeti Breweries in Tanzania, Halico in Vietnam, ShuiJingFang in China, and Zacapa premium rum from Guatemala, as well as acquiring Turkish spirits group Mey Icki.
However, the maker of Smirnoff vodka, Guinness stout and Baileys liqueur reported that total sales in Europe fell 5 per cent in the year, dragged down by a 39 per cent decline in sales in Greece and a 21 per cent fall in Spain and Portugal.
From cnwinenews