Diageo H1 Operating Profit Declines; Organic Net Sales Down 0.6%

(RTTNews) - Diageo PLC (DGE.L, DEO) reported that its first half profit before tax declined to $3.08 billion from $3.61 billion, last year. Earnings per share, in cents, was 98.4 compared to 118.8. Operating profit before exceptional items was $3.51 billion compared to $3.77 billion, prior year. Organic operating profit declined 5.4%, for the period. Excluding the impact of LAC, organic operating profit grew 0.9%. Earnings per share before exceptional items, in cents, was 107.8 compared to 116.0. For the six months ended 31 December 2023, net sales were $10.96 billion compared to $11.12 billion, previous year. Organic net sales declined 0.6%, driven by a 23% decline in Latin America and Caribbean. Excluding the impact of LAC, organic net sales grew 2.5% for the period.

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