Diageo lifts its glass to better times

13 April 2012

BETTER times could be round the corner, according to upbeat Diageo chief executive Paul Walsh.

He said the group, which includes Johnnie Walker whisky and Guinness beer, is on track to achieve 'superior performance' as it gains market share even in difficult economies such as Latin America.

Walsh also told Diageo's annual meeting in London on Wednesday that he sees 'signs of improvement' in some markets - particularly the US - lifting the shares 1p to 684p.

Diageo is the latest world-class British company to make most of its money in the US. Despite challenging times in many countries, the firm has shown 'its ability to generate growth', said Walsh.

Three directors including Walsh and Diageo chairman Lord Blyth were re-elected. The National Association of Pension Funds gave the firm's corporate governance policies a clean bill of health.

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