Diageo PLC (LSE:DGE) remains confident of delivering medium-term targets despite a challenging operating environment.
The spirits maker, which owns Johnnie Walker, Smirnoff and Guinness, said it was well positioned to deliver its medium-term guidance for financial year 2023 to 2025 of organic net sales growth consistently in the range of 5% to 7% and organic operating profit growth sustainably in the range of 6% to 9%.
Debra Crew, chief executive, said: “Our expectations for fiscal 24 are unchanged”, adding the firm expects “operating environment challenges to persist, with ongoing cost pressure and geopolitical and macroeconomic uncertainty”.
Crew said she firmly believes “the strength of our portfolio, our diversified footprint and our deep consumer insights will drive sustainable long-term growth and generate value for shareholders".
The FTSE 100 firm was updating investors ahead of today’s AGM.