Interim Management Statement

RNS Number : 9075F

Diageo PLC

15 October 2008

 



Interim management statement for the three months ended 30 September 2008

15 October 2008

Diageo maintains full year guidance of organic operating profit growth of between 7% and 9%. 

Organic net sales growth in the three month period ended 30 September 2008 was 6%. There has been no material change in the financial position of the group during the period. £277 million of share repurchases as part of the share buy back programme were the principal reason for the movement in net assets from £4.2 billion at 30 June 2008 to £4.1 billion at 30 September 2008. 

Paul Walsh, Chief Executive of Diageo, will make the following comments at Diageo's AGM today: 

'As we anticipated, global GDP growth has slowed since the beginning of the financial year. Although these challenging economic trends have affected our business, the strength and diversity of Diageo has delivered a good trading performance in the first quarter. 

'While we have not seen significant adverse changes in our markets in the first quarter, we will be alert to the impact the recent dislocation in the financial markets is likely to have on trade customer and consumer behaviour during the rest of the financial year. However, based on our current performance we can repeat the guidance we gave in August, for organic operating profit growth for the coming year to be within the range of 7% to 9%.'

ENDS

For further information, please contact: 

Investor Relations

Darren Jones
[phone]
[e-mail]

Sarah Paul 
[phone]

[e-mail] 

Media 

James Crampton

[phone]

[e-mail]

Note to editors

1. Forward-looking statements

This document contains certain forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability of financing to Diageo, anticipated cost savings or synergies and the completion of Diageo's strategic transactions, are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including factors that are outside Diageo's control. All oral and written forward-looking statements made on or after the date of this document and attributable to Diageo are expressly qualified in their entirety by the 'risk factors' contained in Diageo's annual report on Form 20-F for the year ended 30 June 2008 filed with the US Securities and Exchange Commission (SEC). Any forward-looking statements made by or on behalf of Diageo speak only as of the date they are made. Diageo does not undertake to update forward-looking statements to reflect any changes in Diageo's expectations or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Diageo may make in documents it files with the SEC.  All readers, wherever based, should take note of these disclosures. The information in this document does not constitute an offer to sell or an invitation to buy shares in Diageo plc or any other invitation or inducement to engage in investment activities.  Past performance cannot be relied upon as a guide to future performance.

About Diageo 

Diageo is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, wines, and beer categories. These brands include Johnnie Walker, Guinness, Smirnoff, J&B, Baileys, Cuervo, Tanqueray, Captain Morgan, Crown Royal, Beaulieu Vineyard and Sterling Vineyards wines. 

Diageo is a global company, trading in more than 180 countries around the world. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE). For more information about Diageo, its people, brands, and performance, visit us at Diageo.com. For our global resource that promotes responsible drinking through the sharing of best practice tools, information and initiatives, visit DRINKiQ.com.

 

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