Analyst Views: Did Diageo’s full-year results meet your expectations?

“Diageo’s results were broadly in line with our forecasts… Organic volume growth was one per cent, constrained by a decline in Diageo’s Western Europe region but sales price/mix rose by 3.8 per cent organically with good improvements in emerging markets and in North America.

 

“The results are solid on virtually all metrics despite some difficult markets in Europe, weakness in South Korea and a slowdown in Brazil…We are fundamentally more optimistic about Diageo than we are about Pernod.. and the incoming chief executive may provide a breath of fresh air across the operations.

 

“Expansion into the emerging markets is becoming central to its strategy and is on course to represent half of its sales within the next two years…The generation of cash has enabled Diageo to maintain its progressive dividend policy, whilst its sheer scale and geographical diversification bode well for further expansion.