Revised segmental information

RNS Number : 1300R
Diageo PLC
09 September 2014
 



 

9 September 2014

 

Diageo issues revised segmental information for prior reporting periods

 

As announced on 30 July 2014, Diageo has made changes to management responsibilities. An assessment was subsequently made to determine how the business will be presented in its management reporting to the executive committee and this has led to a change in the reporting of the group's external geographic segments. For the year ending 30 June 2015 the following geographical segments will be reported:

·      North America

·      Europe

·      Africa

·      Latin America and Caribbean

·      Asia Pacific

·      Corporate

As a consequence of this change the figures for the geographical segments for prior periods have been restated. 

Revised segmental information for the years ended 30 June 2014 and 30 June 2013 and the six month period ended 31 December 2013 is provided below.

Organic growth percentages by geographic segment for the year ended 30 June 2014 are also provided.

 

Volume


Year ended 30 June 2014


Year ended 30 June 2013


As

reported

units million

 

Reclass

units

million

 

Restated

units million


As

reported

units million

 

Reclass

units

million

 

Restated

units million

North America

49.3

49.3


53.6

53.6

Europe

-

44.6 

44.6


-

45.4 

45.4

Western Europe

33.0

(33.0)

-


33.6

(33.6)

-

Africa

-

 24.4 

24.4


-

26.1 

26.1

Africa, Eastern Europe and Turkey

36.0

(36.0)

-


37.9

(37.9)

-

Latin America and Caribbean

23.0

23.0


23.3

23.3

Asia Pacific

  14.8

       - 

  14.8


  15.8

      - 

  15.8


156.1

       - 

156.1


164.2

      - 

164.2

 


Six months ended 31 Dec 2013




As

reported

units million

 

Reclass

units

million

 

Restated

units million





North America

26.5

26.5





Europe

-

24.3 

24.3





Western Europe

17.7

(17.7)

-





Africa

-

12.8 

12.8





Africa, Eastern Europe and Turkey

19.4

(19.4)

-





Latin America and Caribbean

12.5

12.5





Asia Pacific

   8.2

       - 

  8.2






84.3

       - 

84.3





 

Sales


Year ended 30 June 2014


Year ended 30 June 2013


As

reported

£ million

 

Reclass

£ million

 

Restated

£ million


As

reported

£ million

 

Reclass

£ million

 

Restated

£ million

North America

3,915

3,915


4,262

4,262

Europe

-

4,935 

4,935


-

5,074 

5,074

Western Europe

3,644

(3,644)

-


3,669

(3,669)

-

Africa

-

1,846 

1,846


-

2,014 

2,014

Africa, Eastern Europe and Turkey

3,137

(3,137)

-


3,419

(3,419)

-

Latin America and Caribbean

1,404

1,404


1,741

1,741

Asia Pacific

1,801

1,801


2,109

2,109

Corporate

       79

         - 

       79


       76

         - 

       76


13,980

         - 

13,980


15,276

         - 

15,276

 


Six months ended 31 Dec 2013




As

reported

£ million

 

Reclass

£ million

 

Restated

£ million





North America

2,149

2,149





Europe

-

2,707 

2,707





Western Europe

1,970

(1,970)

-





Africa

-

1,002 

1,002





Africa, Eastern Europe and Turkey

1,739

(1,739)

-





Latin America and Caribbean

1,102

1,102





Asia Pacific

   1,012

1,012





Corporate

     42

         - 

     42






8,014

         - 

8,014





 

 

Net sales


Year ended 30 June 2014


Year ended 30 June 2013


As

reported

£ million

 

Reclass

£ million

 

Restated

£  million


As

reported

£ million

 

Reclass

£ million

 

Restated

£ million

North America

3,444

3,444


3,723

3,723

Europe

-

2,814 

2,814


-

2,915 

2,915

Western Europe

2,169

(2,169)

-


2,203

(2,203)

-

Africa

-

1,430 

1,430


-

1,564 

1,564

Africa, Eastern Europe and Turkey

2,075

(2,075)

-


2,276

(2,276)

-

Latin America and Caribbean

1,144

1,144


1,453

1,453

Asia Pacific

1,347

1,347


1,572

1,572

Corporate

       79

         - 

       79


       76

         - 

       76


10,258

         - 

10,258


11,303

         - 

11,303

 


Six months ended 31 Dec 2013




As

reported

£ million

 

Reclass

£ million

 

Restated

£ million





North America

1,904

1,904





Europe

-

1,560 

1,560





Western Europe

1,179

(1,179)

-





Africa

-

774 

774





Africa, Eastern Europe and Turkey

1,155

(1,155)

-





Latin America and Caribbean

900

900





Asia Pacific

752

752





Corporate

     42

         - 

     42






5,932

         - 

5,932





 

Marketing spend


Year ended 30 June 2014


Year ended 30 June 2013


As

reported

£ million

 

Reclass

£ million

 

Restated

£ million


As

reported

£ million

 

Reclass

£ million

 

Restated

£ million

North America

540

540


581

581

Europe

-

413 

413


-

431 

431

Western Europe

323

(323)

-


328

(328)

-

Africa

-

152 

152


-

162 

162

Africa, Eastern Europe and Turkey

242

 (242)

-


265

(265)

-

Latin America and Caribbean

203

203


233

233

Asia Pacific

305

305


356

356

Corporate

       7

      - 

       7


       6

      - 

       6


1,620

      - 

1,620


1,769

      - 

1,769

 


Six months ended 31 Dec 2013




As

reported

£ million

 

Reclass

£ million

 

Restated

£ million





North America

293

293





Europe

-

231 

231





Western Europe

177

(177)

-





Africa

-

81 

81





Africa, Eastern Europe and Turkey

135

(135)

-





Latin America and Caribbean

123

123





Asia Pacific

170

170





Corporate

    5

      - 

    5






903

      - 

903





 

 

Operating profit before exceptional items


Year ended 30 June 2014


Year ended 30 June 2013


As

reported

£ million

 

Reclass

£ million

 

Restated

£ million


As

reported

£ million

 

Reclass

£ million

 

Restated

£ million

North America

1,460 

1,460 


1,478 

1,478 

Europe

853 

853 


903 

903 

Western Europe

639 

(639)


650 

(650)

Africa

340 

340 


400 

400 

Africa, Eastern Europe and Turkey

554 

(554)


653 

(653)

Latin America and Caribbean

328 

328 


468 

468 

Asia Pacific

283 

283 


381 

381 

Corporate

 (130)

      - 

 (130)


 (151)

      - 

 (151)


3,134 

      - 

3,134 


3,479 

      - 

3,479 

 


Six months ended 31 Dec 2013




As

reported

£ million

 

Reclass

£ million

 

Restated

£ million





North America

851 

851 





Europe

509 

 509 





Western Europe

370 

(370)





Africa

188 

188 





Africa, Eastern Europe and Turkey

327 

(327)





Latin America and Caribbean

386 

386 





Asia Pacific

193 

193 





Corporate

   (67)

      - 

   (67)






2,060 

      - 

2,060 





 

Organic growth for the year ended 30 June 2014



Volume


Sales


Net sales

Increase/(decrease)


As reported

 

Restated


As reported

 

Restated


As reported

 

Restated



%

%


%

%


%

%

North America


(1)

(1)


3 


Europe


(1)


- 


- 

1 

Western Europe


Flat 


1 

- 


Flat 

- 

Africa


(6)


- 

Flat 


 Flat 

Africa, Eastern Europe and Turkey


(5)


3 

- 


- 

Latin America and Caribbean


(1)

(1)


5 


Asia Pacific


(5)

(5)


(7)

(7)


(7)

(7)

Corporate


n/a 

n/a 


4 


Total


(2)

(2)


1 


Flat 

Flat 

 



Marketing spend


Operating profit*



Increase/(decrease)


As reported

 

Restated


As reported

 

Restated






%

%


%

%




North America






Europe


(1)





Western Europe


Flat 


Flat 




Africa



(2)




Africa, Eastern Europe and Turkey


- 


Flat 

- 




Latin America and Caribbean






Asia Pacific


(7)

(7)


(13)

(13)




Corporate


17 

17 


13 

13 




Total


(1)

(1)





* Operating profit before exceptional items

 

The reported figures are those reported in the press release dated 31 July 2014.

Net sales are after deducting excise duties.  See the company's 2014 UK annual report and annual report on Form 20-F for the year ended 30 June 2014 filed with the US Securities and Exchange Commission (SEC) for an explanation of organic movement calculations and further definitions, disclosures and information.


Contacts

Investor enquiries to:                              Catherine James                        +44 (0) 20 8978 2272

Pier Falcione                             +44 (0) 20 8978 4838

Angela Ryker Gallagher              +44 (0) 20 8978 4911

Colette Wright                           +44 (0) 20 8978 1380

investor.relations@diageo.com

Media enquiries to:                                 James Crampton                        +44 (0) 20 8978 4613

Victoria Ward                             +44 (0) 20 8978 4353

                                                                                                            press.office@diageo.com 

Editor notes

Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits, beer and wine categories.  These brands include Johnnie Walker, Crown Royal, JεB, Buchanan's, Windsor and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

 

Diageo is a global company, and our products are sold in more than 180 countries around the world.  The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).  For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com.  Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice.

 

Celebrating life, every day, everywhere.

 

Important information

This announcement is not intended to and does not constitute or form part of any offer to sell or subscribe for or any invitation to purchase or subscribe for any securities in any jurisdiction. 

The release, publication or distribution of this announcement in certain jurisdictions may be restrict by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should observe any applicable requirements.  This announcement has been prepared for the purpose of complying with the laws of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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