Diageo sees boost to margins as bars, restaurants open

September 30, 2021

(Reuters) – Johnnie Walker whisky maker Diageo Plc said on Thursday it has made a “strong start” to its financial year and expects organic operating margins to benefit from a further recovery in sales at restaurants and bars in North America and Europe.

However, it expects near-term volatility to remain, pointing to markets including Africa, Asia and Latin America.

“We have made a strong start to fiscal ’22 … as we benefit from resilience in the off-trade (retail) and continued recovery in the on-trade (bars and restaurants),” Chief Executive Ivan Menezes said in a statement ahead of the company’s annual general meeting later in the day.

(Reporting by Siddharth Cavale in Bengaluru; Editing by Saumyadeb Chakrabarty)

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