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Premium brands carry Diageo through tough times - CEO

Thursday, August 23, 2012 - 04:00

Aug. 23 - Paul Walsh, CEO of Diageo, says the drinks giant is not immune to a major dislocation in the global economy but is confident buoyant demand for whisky and spirits will help it meet targets.

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The love -- spirits Szczerbiak Joseph is banking on prospects in Asia and Africa to boost sales business in the US and Europe doesn't -- -- -- and a CEO Paul Walsh joins me now quote good good to talk -- you again emerging markets doing well the US looks good. Europe in terms of five lead the top and -- looks pretty good as well. What could not these overall numbers off track. Well I think if we saw any major dislocation in the global economy. -- -- we would not be immune to that I think we have resilience but we wouldn't fully escape it. But equally I don't see eye -- I think some of the fundamental trends that we have written in the year we've just reported -- will continue. What will the higher end -- doing so well. In. In economy is that a faring so badly of people willing to spend more on on alcohol right now. I think we have to recognize that they're all still both consumers. Who have. Appropriate incomes. And who wished to enjoy the finer things of life. And basically that's what we provide. Brands like Johnnie Walker blue -- -- so wrong vodka casual look up a doing fantastically well. All -- brown portfolio globally is now all the warm billion pounds and sales but we grew 27%. -- here. I don't see that changing. Unless we see some economic downdraft. -- just and goals the whole global economy console war. What what what I -- that's -- -- what do you think is gonna happen Europeans are gonna get worse before it. Gets back so we gonna talk -- long -- the next couple years. Look I'm no economist but my prediction is that we will simply. As you put it cultural long as we all I think Europe. We see today is what we better get used -- racing game for the foreseeable future. I'm not certainly how we -- tailoring all business they're all opportunities that we grew Johnnie Walker in Europe 5% we group captain Morgan in Europe 25%. Albeit businesses find. It is what it is it will not be as. Exciting. It's Asia Latin America and Africa and we call the trends in the states continue. We need to operating Europe as we see it today it's not mention what what what about new opportunities -- went went went in the management of Deanna just sits down and and you're looking for a new opportunities for growth what -- -- -- those special teams is gonna come from. I actually we have. A very rich vein of opportunity. Whether reach these new markets. Whether it's new consumers. And are all millions. Of consumers who were coming into legal drinking age around the world. That increasingly have the economic empowerment. To access all brands. Whether it's opportunities around mock -- and how we engage with those consumers. -- on new opportunities every day around that. Equally innovation new products. New forms we've recently done a pouch products in the states will you freeze its in the you actually have this sort of rules and cocktail -- this law also says that you've basically got to make sure that we are ruthless in how we prioritize and you -- here you're just. Adding these opportunities to already what seems to me already a strong business at the suit so. Ultimately things can only get better right. Yeah -- we are very confident in this does. Pull I've got a -- that my apologies Paul Walsh and CEO of the Ngo. That's it for me I'm axle problem is is rice's.

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Premium brands carry Diageo through tough times - CEO

Thursday, August 23, 2012 - 04:00