REG - Diageo PLC - Trading commentary ahead of AGM 2024

DiageoAnnouncement

26/09/2024 07:00

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RNS Number : 6696F  Diageo PLC  26 September 2024

Trading commentary ahead of AGM 2024

Debra Crew, Chief Executive, commented:

"Our expectations are unchanged from when we reported our fiscal 24
preliminary results on 30 July 2024. The global environment remains
challenging for both our industry and Diageo.

While consumers continue to be cautious in this environment, we are focused on
strengthening the resilience of our business through operational excellence,
productivity and strategic investments to win quality market share. We have
made good progress on our strategic initiatives, including our US
route-to-market enhancements, and in Nigeria we are progressing well towards
completion of the agreement to restructure our business model there.

I believe that the fundamentals for global TBA, and particularly the spirits
industry, remain strong and am confident that when the consumer environment
improves, growth will return and the actions we are taking will position us
well to outperform the market."

ENDS

For further information, please contact:

Investor relations:

Andy Ryan
                                  +44 (0) 7803 854 842

Brian Shipman
                                +1 (0) 917 710 3007

Grace Murphy
                                +44 (0) 7514 726 167

investor.relations@diageo.com (mailto:investor.relations@diageo.com)

Media relations:

Brendan O'Grady
                            +44 (0) 7902 126 906

Clare Cavana
                                +44 (0) 7751 742 072

Isabel Batchelor
                                 +44 (0) 7731 988 857

press@diageo.com (mailto:press@diageo.com)

About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection
of brands across spirits and beer categories. These brands include Johnnie
Walker, Crown Royal, J&B and Buchanan's whiskies, Smirnoff, Cîroc and
Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180
countries around the world. The company is listed on both the London Stock
Exchange (DGE) and the New York Stock Exchange (DEO). For more information
about Diageo, our people, our brands, and performance, visit us at
www.diageo.com. Visit Diageo's global responsible drinking resource,
www.DRINKiQ.com for information, initiatives, and ways to share best practice.

Celebrating life, every day, everywhere.

 

Cautionary statement concerning forward-looking statements

This document contains 'forward-looking' statements. These statements can be
identified by the fact that they do not relate only to historical or current
facts. In particular, forward-looking statements include all statements that
express forecasts, expectations, plans, outlook, objectives and projections
with respect to future matters, including trends in results of operations,
margins, growth rates, overall market trends, the impact of changes in
interest or exchange rates, the availability or cost of financing to Diageo,
anticipated cost savings or synergies, expected investments, the completion of
any strategic transactions or restructuring programmes, anticipated tax rates,
changes in the international tax environment, expected cash payments, outcomes
of litigation or regulatory enquiries, anticipated changes in the value of
assets and liabilities related to pension schemes and general economic
conditions. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that
will occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from those expressed or
implied by these forward-looking statements, including factors that are
outside Diageo's control. Any forward-looking statements made by or on behalf
of Diageo speak only as of the date they are made. Diageo does not undertake
to update forward-looking statements to reflect any changes in Diageo's
expectations with regard thereto or any changes in events, conditions or
circumstances on which any such statement is based.

An explanation of non-GAAP measures, including organic movements, is set out
on pages 227-235 of Diageo's Annual Report for the year ended 30 June 2024.

Diageo plc LEI: 213800ZVIELEA55JMJ32

 

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