Diageo reported a modest 1.2% increase in net sales for the first quarter of its financial year, reaching $4.9 billion. After stripping out currency effects and the sale of East African Breweries, organic growth was only 0.6% and total volume slipped 0.1%. In North America, which makes up about a third of the group’s turnover, sales and volume both fell 3.7%, dragging down premium tequila brands such as Don Julio and Casamigos. The decline was partly offset by growth in beer and ready‑to‑drink canned cocktails. In the Europe‑Middle East‑Africa region, organic sales rose 2.4% thanks to a 4.4% boost in volumes, although price cuts meant revenue per bottle fell by 2%. Sir Dave Lewis, who took the helm in early 2026, has already implemented a turnaround plan that includes cutting roughly 2,000 jobs, reducing headcount by 6% to 27,938. Profit fell by more than a fifth to just under $2 billion, and the company is targeting up to $850 million in cost savings. Lewis warned that competitive pressure remains the biggest challenge, but said clear actions are underway. Fuente: City AM #Diageo #Sales #Profit #Turnaround #Beverages #CityAM
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