{"id":12066,"date":"2023-11-10T07:53:58","date_gmt":"2023-11-10T07:53:58","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/diageo-warns-on-first-half-profit-on-muted-latam-caribbean-performance\/"},"modified":"2023-11-10T07:53:59","modified_gmt":"2023-11-10T07:53:59","slug":"diageo-warns-on-first-half-profit-on-muted-latam-caribbean-performance","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=12066","title":{"rendered":"Diageo warns on first-half profit on muted LatAm, Caribbean performance"},"content":{"rendered":"
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\u00a9 Reuters. Pints of Guinness are seen in a pub, in Dublin, Ireland March 20, 2023. REUTERS\/Clodagh Kilcoyne\/File Photo<\/span>
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(Reuters) – Johnnie Walker whisky maker Diageo <\/span><\/span> (LON:) on Friday said it expected organic operating profit growth to decline in the first half of its current financial year due to “materially weaker” performance in Latin America and Caribbean.<\/p>\n

“Macroeconomic pressures in the region are resulting in lower consumption and consumer downtrading,” the world’s biggest spirits company said in a statement.<\/p>\n

“These impacts are slowing down progress in reducing channel inventory to appropriate levels for the current environment.”<\/p>\n

Latin America and Caribbean makes up nearly 11% of the company’s net sales, according to Diageo. <\/p>\n

Sales in the region are now expected to decline by more than 20%, year-on-year, in the first half of fiscal 2024, the company added. Diageo’s financial year 2023 ended on June 30. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Pints of Guinness are seen in a pub, in Dublin, Ireland March 20, 2023. REUTERS\/Clodagh Kilcoyne\/File Photo (Reuters) – Johnnie…<\/p>\n","protected":false},"author":1,"featured_media":2361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-12066","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nDiageo warns on first-half profit on muted LatAm, Caribbean performance | inFundPros<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Pints of Guinness are seen in a pub, in Dublin, Ireland March 20, 2023. 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