Diageo beats sales forecasts despite US market drag
The spirits maker reported 0.3% organic net sales growth for the third quarter, surpassing expectations of a decline. Strong Guinness demand and World Cup stocking helped performance, though North American sales fell 9.4% as CEO Dave Lewis works to address regional competitiveness.
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DIAGEO PLC reported 0.3% organic net sales growth in the third quarter, beating analyst expectations for a 2.3% decline. The surprise result followed strong Guinness demand and inventory builds in Latin America ahead of the World Cup. Investors responded by sending shares 5% higher in the mid-morning.
