Growth for DiageoThis article was originally published in Foodnews
DIAGEO has reported organic net sales growth of 5% and volume growth of 3% for the nine months ended 31 March 2011. Strong growth outside of Europe more than offset a sales decline within it. North America (+3%), International (+14%) and Asia Pacific (+9%) all shone on a sales basis, but sales in Europe fell 3% due to economic woes in Ireland, Greece and Spain. Growing Chinese demand for Scotch, particularly around Chinese New Year, boosted Asia Pacific, while Nigeria, South Africa and Australia lifted International. "In North America, consumer trends are improving, albeit modestly," chief executive Paul Walsh said.