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Diageo full-year organic sales fall more than expected

Diageo full-year organic sales fall more than expected

Diageo Plc, the world's largest spirits maker, reported a biggerthanexpected decline in underlying net sales on Tuesday as demand for its whiskies, vodka and gin fell in all markets except North America.

Diageo Plc, the world’s largest spirits maker, reported a bigger-than-expected decline in underlying net sales on Tuesday as demand for its whiskies, vodka and gin fell in all markets except North America.

The Johnnie Walker whisky maker reported an 8.4% drop in organic sales for the year ended June 30, much lower than the 7.3% drop analysts had expected, according to company supplied estimates.

This would mark the company’s worst annual sales performance in more than a decade, according to Bernstein analysts.

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