Diageo Backs Outlook, But Warns on Emerging Markets Volatility
20 Settembre 2018 - 9:01AM
Dow Jones News
By Carlo Martuscelli
Diageo PLC (DGE.LN) said Thursday that business is in line with
expectations and backed its three-year outlook, but warned that it
is experiencing some exchange-rate volatility in emerging
markets.
The company said that the volatility is being partially offset
by a strengthening dollar. But it still expects a hit to net sales
of 175 million pounds ($230.1 million), and a hit to operating
profit of GBP45 million for the fiscal year.
Organic net sales growth in fiscal 2019 is expected to be
broadly in line with the last fiscal year, while organic operating
margins are expected to grow by 175 basis points over three years
ending in June 30, 2019--in line with guidance--the owner of the
Smirnoff and Johnnie Walker brands said.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
September 20, 2018 02:46 ET (06:46 GMT)
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