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Diageo reports good start to 2020


Diageo PLC Thursday said the company had a good start to fiscal 2020 and backed the board’s views for the year.

The world’s largest liquor maker

DGE, -0.64%

 , which owns the Johnnie Walker and Smirnoff brands among others, said it expects first half organic operating profit growth in-line with, or slightly behind, organic net sales growth. Organic operating profit for the first half of fiscal 2018 grew by 12.3%. Organic net sales grew 7.5% for the year-prior period.

The board said that it expects organic net sales growth for fiscal 2020 to be toward the midpoint of the 4% to 6% range. It added that organic operating profit will grow roughly one percentage point ahead of organic net sales.

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