Diageo Posts Surprise Sales Rise Under New CEO
Diageo reported an unexpected rise in first-quarter organic net sales as improvements in its US business gave momentum to CEO Dave Lewis's turnaround plan. North American sales fell less than expected, though leadership warns the market remains tough.
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DIAGEO PLC posted organic net sales growth of 0.6% for the quarter ended September, beating analyst forecasts of a 0.4% decline. The unexpected rise offers early momentum for CEO Dave Lewis as he attempts a turnaround at the world's top spirits maker. Shares rose 2.65% following the Thursday morning update.
