LONDON Oct 17 Drinks company Diageo Plc
reported a 3 percent rise in quarterly organic net sales on
Thursday, as growth in the Americas offset a decline in western
Diageo said in the first quarter to September 30, organic
net sales rose 10.9 percent in Latin America and the Caribbean,
5.1 percent in North America, 1.3 percent in Africa, eastern
Europe and Turkey and 0.6 percent in Asia Pacific.
Sales fell 1.1 percent in western Europe, and the maker of
Johnnie Walker whisky and Smirnoff vodka said it expects a low
single digit net sales decline for the full year in the region.
At current spot rates, the company said foreign exchange
would hurt operating profit for the fiscal year ended in June
2014 by 165 million pounds.
On a reported basis, net sales were flat, due to the loss of
the Jose Cuervo tequila brand, which Diageo stopped distributing
earlier this year.
Sales volume rose just 0.6 percent.