Drink giant Diageo has reported a 20%-plus jump in annual sales on the back of strong growth in demand for whisky, tequila and beer.
The company – home to whisky brands including Johnnie Walker, Crown Royal, J&B, Buchanan’s and Windsor, posted net sales of £15.5 billion.
This was up 21.4% on a year earlier, with strong double-digit growth seen across all global markets.
Operating profits grew by 18.2% to £4.4 billion during the year to June 30 as price increases and supply productivity savings “more than offset” cost inflation.
London-based Diageo said it achieved broad-based drink category growth and gained market share.
And it highlighted its whiskies, tequila and beer as stellar perfomers.
In addition, it flagged “strong momentum in creating a diverse and inclusive organisation”.
The firm cited its 44% women leaders globally – up 2% year-on-year – and 41% ethnically diverse leaders, up 4%.
Dividend increase
Diageo increased its recommended final dividend by 5% to 46.82p per share.
The firm also revealed it had completed £3.6bn of share buybacks as part of return of capital programme worth up to £4.5bn.
Chief executive Ivan Menezes said: “We delivered double-digit organic net sales growth across all regions and we gained or held off-trade market share in over 85% of our total net sales value in measured markets.
“We expanded operating margin while increasing marketing investment ahead of net sales growth, and we used our strong cash generation to invest in long-term growth.
“I am very proud of what my 28,000 colleagues have achieved through their energy and creativity.”
Milestone for Johnnie Walker
He added: “In a year of significant global supply chain disruption, our double-digit volume growth demonstrates the tremendous agility and resourcefulness of our teams.
“I am particularly proud of the performance of Johnnie Walker, which delivered double-digit growth across all regions to surpass 21 million cases globally. This fantastic milestone exemplifies our world-class brand-building and execution capabilities.
“Looking ahead to fiscal 23, we expect the operating environment to be challenging, with ongoing volatility related to Covid-19, significant cost inflation, a potential weakening of consumer spending power and global geopolitical and macroeconomic uncertainty.
“Notwithstanding these factors, I am confident in the resilience of our business and our ability to navigate these headwinds.”
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