Diageo, the world's biggest spirits group and owner of Guinness UDV, has reported a 3% rise in annual profits, but said it will be challenging to meet its financial targets in the current year.
The group, which markets Smirnoff vodka, Johnnie Walker scotch and Guinness, reported pre-tax profits for the year to June 30 before exceptionals and goodwill of £2.043 billion sterling after £1.980 billion the previous year. Analysts had forecast pre-tax profits of £2.036-2.078 billion.
Diageo said organic sales growth of its premium drinks business slowed to 9% in the year after seeing 11% growth in the first-half, reflecting a warning the group gave in July of slower growth.
