Diageo has started its fiscal 2024 in line with expectations, with 12-month sales – to the end of June next year – poised to grow by between 5% and 7%.
The group’s new CEO, Debra Crew, said in today’s [Thursday] trading update that performance since the start of the financial year on 1 July has been such that Diageo’s “medium-term guidance” remains unchanged. The update was released to coincide with the company’s AGM this afternoon.
“While we expect operating environment challenges to persist, with ongoing cost pressure and geopolitical and macroeconomic uncertainty, we will … continue to invest in marketing and innovation,” Crew said. “I am confident in … our ability to navigate these headwinds while executing our strategic priorities.”
Diageo's most recent financial year delivered a sales lift of 6.5% with North America being the only reporting region not to exhibit top-line growth. "North America delivered stable performance as the US spirits industry continued to normalise post-pandemic, and we lapped strong comparators, particularly in the second half of fiscal 2023," said Crew at the time.
