Diageo numbers boosted by US spirits

Global drinks group Diageo said a strong performance and higher prices in US spirits, its biggest business, led it to a 4 per cent growth in organic net sales, balancing out consumer weakness in Brazil and Nigeria.

The maker of Guinness and Johnnie Walker whisky said overall volumes were down 1 per cent in the three months to the end of March but that it had benefitted from a strong price/mix and a small positive impact from foreign exchange.

"Given our market positions and geographic diversity we remain confident that Diageo's performance continues to be in line with our medium term guidance," said Diageo chief executive Paul Walsh in a statement today.