Diageo holds expectations amid 'challenging' environment

(Sharecast News) - Drinks maker Diageo on Thursday maintained guidance amid a "challenging" global environment for the industry. In a brief trading statement ahead of its annual general meeting, chief executive Debra Crew said consumers continued to be "cautious". The maker of Guinness and Smirnoff in July reported a drop in full-year organic operating profit as it pointed to a weaker performance in Latin America and the Caribbean.

"We are focused on strengthening the resilience of our business through operational excellence, productivity and strategic investments to win quality market share," Crew said.

"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."

Reporting by Frank Prenesti for Sharecast.com