{"id":131374,"date":"2024-02-01T17:33:27","date_gmt":"2024-02-01T16:33:27","guid":{"rendered":"https:\/\/luxus-plus.com\/diageo-reports-first-half-results-below-expectations\/"},"modified":"2024-02-01T17:33:39","modified_gmt":"2024-02-01T16:33:39","slug":"diageo-reports-first-half-results-below-expectations","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/diageo-reports-first-half-results-below-expectations\/","title":{"rendered":"Diageo reports first-half results below expectations "},"content":{"rendered":"

The world leader in spirits has announced disappointing first-half results, marked by a significant drop in sales, particularly in Latin America. The company recorded an organic decline in net sales. Despite this setback, the British company remains optimistic for the second half of the year.<\/h4>\n

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On Tuesday January 30, Diageo<\/strong> announced disappointing results for its fiscal first half, marked by a significant drop in sales. Latin America was particularly hard hit, resulting in an overall performance below forecasts.<\/p>\n

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In the first half of the fiscal year, the world’s leading spirits company posted net sales down 0.6%<\/strong> organically, underperforming analysts’ expectations for a stable performance. Similarly, operating profit fell organically by 5.4%<\/strong>, exceeding the pessimistic forecasts of experts who were expecting a smaller decline of 4.7%<\/strong>.<\/p>\n

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Following this announcement, Diageo shares fell by 3.85% on the London Stock Exchange<\/strong>, marking the most significant decline on London’s FTSE<\/strong> index at 09:26 GMT.<\/p>\n

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Latin America weighs on overall performance<\/h2>\n

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Latin America<\/strong> was the major weak spot, with an alarming 23%<\/strong> drop in first-half sales. This was due to a build-up of unsold inventory in Mexico and Brazil, where demand for high-end spirits has fallen considerably.<\/p>\n

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