GUINNESS STARS IN DIAGEO RESULTS - This morning, there were half-year results to the end of December 2007 from Diageo. Diageo, which owns Guinness, has reported pre-tax profits of £1.37 billion for the six months to the end of December, up just over 5% on the same period a year earlier.
Net sales were up 7%, while sales by volume were up 4%. Diageo said total Guinness sales were up 6% and it gained market share in Britain and Ireland.
Diageo Ireland managing director Michael Ioakimides said the parent company's global sales were up 7% to around £9 billion.
He said Guinness sales were up 3% in Ireland, while the brand had gained market share in pubs. Mr Ioakimides said 6% overall sales growth was good for Ireland as much Guinness was exported from the country. He described it as a 'stunning result'.
Asked about Heineken's potential takeover of Scottish & Newcastle's Irish business - which includes Beamish & Crawford - he said he did not expect it to have a significant effect on the market's structure as S&N was 'a small player' in Ireland.
The Diageo Ireland chief said the company wanted to remain in Ireland, but a review of its manufacturing activities was still going on. He said, however, that the 'passion' for the Guinness brand and the history associated with St James's Gate was being taken into account.
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ENGLISH CLUBS DOMINATE FOOTBALL RICH LIST - Despite massive debts, Manchester United has become the world's second richest football club with income of €315m during the 2006/2007 season. The number one earner, Real Madrid, raked in €351m.
Deloitte's Paul Rawnsley said Manchester United's revenue had increased by 30%, helped by the increased capacity of Old Trafford, with increases in commercial and broadcast revenue.
UK clubs were the most represented in the top 20, and Mr Rawnsley said extra money for English Premier League this season could bring even more of them into the top 20 next season. This was being helped by an extra €300m in income from broadcasting deals.
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CURRENCIES - The euro is worth $1.4582 and 74.06p sterling.
