Diageo toasts ‘good start’ to its financial year

Diageo has toasted a ‘good start’ to its financial year after notching up strong sales in the US. 

The drinks business said it has been buoyed by ‘robust demand’ in the off-trade, which covers supermarkets and retail stores, despite the continuing impact of coronavirus.

Drinking to success: The drinks business said it has been buoyed by 'robust demand' in the off-trade, which covers supermarkets and retail stores

Drinking to success: The drinks business said it has been buoyed by 'robust demand' in the off-trade, which covers supermarkets and retail stores

Drinking to success: The drinks business said it has been buoyed by ‘robust demand’ in the off-trade, which covers supermarkets and retail stores

Ivan Menezes, chief executive of the Johnnie Walker and Guinness owner, said the firm has also benefited from the gradual reopening of pubs and bars in most markets, with the pace of its recovery in different regions being driven by the easing of restrictions. 

US trading has been ‘ahead of our expectations’ due to resilient consumer demand and continued growth in spirits sales, it said, while bars and restaurants have now reopened in all 50 states. 

Retail sales of alcohol have held up well across Europe during the coronavirus crisis. But Diageo has been buoyed by the easing of lockdown restrictions on bars, pubs and restaurants across the continent. 

Diageo said sales of alcohol in airports and train stations has been ‘severely impacted’ by the pandemic. 

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