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This is your 90-second Business News Update brought to you by Interface Business Languages.
This is your 90-second Business News Update brought to you by Interface Business Languages.
Diageo, the world's biggest spirits producer has announced a dramatic
increase in their annual pre-tax profit, driven by rising sales in emerging markets.
increase in their annual pre-tax profit, driven by rising sales in emerging markets.
The news was in sharp contrast to Dutch brewer Heineken which recently posted a decline in first-half profits.
The news was in sharp contrast to Dutch brewer Heineken which recently posted a decline in first-half profits.
Diageo, the maker of Guinness, Johnnie Walker whisky and Smirnoff ***
reported a pre-tax profit for the year of £3.1bn, up 32%
on the £2.4bn the company made in the previous year.
on the £2.4bn the company made in the previous year.
Sales rose 10% to £14.6bn,
boosted by a strong performance in Latin America and the Caribbean, a surge in demand
for deluxe Scotch whisky brands in China and south-east Asia
and a growing taste for spirits in Africa.
Business in North America remained buoyant but sales in Europe were dragged down
by the challenging economic climate.
Sales in emerging markets now account for nearly 40% of Diageo's
business, a growth of 15% over the year.
The company remains upbeat that this trend will continue,
forecasting that half its turnover will come from the Asian, African and
Latin American markets by 2015.
Over the next 5 years it plans to invest over a billion pounds in the
production of Scotch whisky in order to meet anticipated demand.
Confident of sustained growth in the medium-term, Diageo also announced an 8%
hike in its dividend to 43.5 pence per share.
At the close of business, the shares stood at 1698.00p, up 17.50p.
At the close of business, the shares stood at 1698.00p, up 17.50p.
That was your 90-second Business News Update brought to you by Interface Business Languages.
That was your 90-second Business News Update brought to you by Interface Business Languages.
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