Guinness and Johnnie Walker whisky maker Diageo said today it expected organic operating profit growth to decline in the first half of its current financial year due to 'materially weaker' performance in Latin America and Caribbean.
Guinness and Johnnie Walker whisky maker Diageo said today it expected organic operating profit growth to decline in the first half of its current financial year due to"materially weaker" performance in Latin America and Caribbean.
"Macroeconomic pressures in the region are resulting in lower consumption and consumer downtrading," the world's biggest spirits company said in a statement. Sales in the Latin America and Caribbean market, which generates nearly 11% of total sales, are now expected to decline by more than 20% in the six months ended December, the company added.