Page last updated at 07:56 GMT, Thursday, 12 February 2009

Guinness firm cuts profit target

Pints of Guinness

The world's biggest alcoholic drinks group, Diageo, has reported a rise in six-month profits but cut its forecast for the full year.

Pre-tax profits for the six months to the end of December 2008 rose 3.2% to 1.4bn at the Guinness-brewer.

But it said that the current economic conditions meant it was cutting its forecast for full-year operating profit growth to 4%-6% from 7%-9%.

Diageo is the company behind Johnnie Walker whisky and Smirnoff vodka.

"Current economic trends indicate that consumer confidence will reduce further and the outlook for the second half is more difficult to predict," said Diageo chief executive Paul Walsh.

"However, across Diageo we have an experienced management team which combined with the consumer appeal of our brands, the effectiveness of our routes to market and our geographic diversity gives us confidence in our business."

Print Sponsor

New brew for Guinness anniversary
26 Dec 08 |  Northern Ireland
Guinness goes back to its roots
11 Sep 08 |  Business
Farmers protest at Guinness gates
12 Aug 08 |  Northern Ireland
Diageo expects 'challenges' ahead
28 Aug 08 |  Business
New Dublin brewery for Guinness
09 May 08 |  Business
Diageo in $900m Dutch vodka deal
06 Feb 08 |  Business

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Sign in

BBC navigation

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific