“Fiscal 24 marks the start of Diageo’s next stage of evolution, and it is an incredible privilege to be leading the company through it.”ĭiageo completed a number of acquisitions in its latest financial year, including the purchases of Australian coffee liqueur brand Mr Black Texas single malt whiskey maker Balcones Distilling, and Philippine rum brand Don Papa Rum. However, with Diageo’s “winning strategy,” she sees “a long runway of growth opportunities” for the firm. Going forward, Crew said she expects operating environment challenges to persist, due to “ongoing geopolitical and macroeconomic uncertainty”. “Globally, we gained or held share in over 70% of total net sales value in our measured markets in fiscal 23.” “North America delivered stable performance as the US spirits industry continued to normalise post-pandemic, and we lapped strong comparators, particularly in the second half of fiscal 23. Debra Crew became CEO of Diageo in JuneĬrew said: “We delivered strong growth in four of our five regions, with Europe and Asia Pacific growing by double digits. Sales in Africa rose by 5% with growth across all markets, except East Africa, which saw a 2% decline. In Latin America and Caribbean, organic net sales grew by 9%, with most markets delivering growth. In Asia Pacific, all markets grew except Greater China, with strong double-digit growth in India (up 17%), Southeast Asia (up 33%), Travel Retail Asia and Middle East (up 67%) and North Asia (up 15%), leading to an organic net sales growth of 13% for the region. Southern Europe’s 12% growth reflected the continued recovery in the on-trade and increased tourism, alongside market share gains in spirits, while in Northern Europe, sales increased by 11% thanks to double-digit growth for Johnnie Walker, as well as ‘strong growth’ in vodka and Tequila.Įastern Europe net sales declined by 3%, due to the suspension of exports to and sales in Russia in March 2022, and the winding down of its operations. Specifically in Great Britain, spirits sales growth was driven by Tequila, vodka and RTDs, partially offset by gin. In Europe, organic net sales rose by 11%.

However, the region’s organic net sales were flat due to a 1% decline in US spirits (offset by growth in Canada and Diageo Beer Company USA).

In North America, reported net sales grew by 11%, driven by a favourable foreign exchange impact from the strengthening US dollar. “In fiscal 23, we drove double-digit organic net sales growth in Scotch, Tequila, and Guinness, with our premium-plus brands contributing 57% of overall organic net sales growth,” she added.Ĭrew took on the CEO role in June 2023 following the death of her predecessor, Sir Ivan Menezes, who planned to retire that month. Ready-to-drink (RTD) growth was flat, with positive movement in Europe and Africa offset by a decline in North America, while liqueur sales fell by 1%.ĭebra Crew, Diageo CEO, said the results demonstrate the firm’s “ability to consistently deliver resilient performance, even in challenging macro environments”.

Captain Morgan drove the 2% growth of the firm’s rum sales across all regions except North America.

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