None
EN
Diageo unveils $1.2bn restructuring plan as sales decline hits North America and Asia Pacific
[]
BeverageDaily.com
It said that while it saw growth in Europe, Latin American & Caribbean (LAC) and Africa this was offset by weakness in North America and Asia Pacific.
Organic net sales declined 2% with volumes down 0.4%.
Net sales of $19.6 billion declined by 3% mainly due to organic net sales decline and the impact of disposals, the company said.
In Europe, net sales growth hit 3.4% driven by good performance in the UK and Turkey with strong momentum in Guinness.
Sir Dave Lewis, Chief Executive Officer, said: “We are pleased with our progress in LAC, Europe and Africa.