Diageo reports increased sales in preliminary results
Diageo has reported net sales of more than £12bn and increased operating profit in its preliminary results for the year ending 30 June 2018.
Here is the breakdown of the key points from the financial report:
Ivan Menezes, chief executive, said: “Organic volume and net sales growth is broad based across regions and categories. We have expanded organic operating margin while increasing investment behind our brands ahead of organic net sales growth.
“During the year we returned £1.5bn to shareholders through a share buyback. We have delivered another year of strong cash flow generation in F18. Consequently, the board has approved an additional share buyback programme of up to £2.0bn during F19.
“Our financial performance expectations are unchanged and we expect to continue to invest in the business to deliver our mid-term guidance of consistent mid-single digit organic net sales growth and 175bps of organic operating margin expansion for the three years ending 30 June 2019.”