Diageo PLC H1 Profit Rises; Organic Net Sales Up 9.4%

(RTTNews) - Diageo PLC (DGE.L, DEO) reported that its first-half profit attributable to parent shareholders was 2.29 billion pounds, an increase of 17% from last year. Earnings per share was 100.6 pence compared to 84.0 pence. Basic earnings per share before exceptional items was 98.6 pence compared to 85.6 pence.

Reported operating profit grew 15.2% to 3.2 billion pounds. Organic operating profit grew 9.7%, for the period.

Reported net sales were 9.4 billion pounds, up 18.4%, primarily reflecting strong organic net sales growth as well as favourable impacts from foreign exchange, mainly due to the strengthening of the US dollar. Organic net sales grew 9.4%, with growth in all regions.

For the medium-term, the Group continues to expect to deliver medium-term guidance of consistent organic net sales growth in the range of 5% to 7% and sustainable organic operating profit growth in the range of 6% to 9% for fiscal 2023 to fiscal 2025.

An interim dividend of 30.83 pence per share will be paid to holders of ordinary shares and US ADRs on register as of 3 March 2023. This represents an increase of 5% on last year's interim dividend.

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