US spirits sales lift Diageo's full-year profits

LONDON (AP) ? Drinks company Diageo PLC says rising spirits consumption in the U.S. helped its profit in the year to end-June to swell by 28 percent to 2.48 billion pounds ($3.79 billion).

Diageo, whose brands include Johnnie Walker whiskey, Smirnoff vodka and Guinness stout, said Wednesday that sales rose 6.1 percent to 15.48 billion pounds from a year earlier.

Sales in North America, its biggest market, were up 5 percent. In emerging markets, there was double-digit growth, including an 18 percent rise in Latin America and 11 percent in Asia. Sales in Western Europe fell 5 percent, however, amid the ongoing economic malaise.

Chief executive Ivan Menezes says effective marketing has been a key driver in whisky sales ? Diageo's biggest and most profitable category.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-07-31-EU-Britain-Earns-Diageo/id-278a1951e65b4f3aac8f1fbd406ec913

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