Financial Performance
Diageo reported a 2.8% decline in organic sales for the first half of the year, with net sales dropping to $10.2 billion. The company’s performance was impacted by weak sales in key markets, including the US and China.
Regional Impact
Diageo’s sales in North America declined by 9.3%, while the Asia-Pacific region saw a decline of 11.1%. In contrast, Europe saw a 2.2% growth in sales.
Market Outlook
Diageo expects organic sales to decline by 2-3% for the full year, with operating profit expected to be flat or grow by 1-2%.
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