Diageo 1st Half 2019 Key Figures Beat Forecasts; Approves More Buybacks -- Earnings Review
31 Januar 2019 - 5:12PM
Dow Jones News
By Ian Walker
Diageo PLC (DGE.LN) released its earnings for the first half of
fiscal 2019 early Thursday. Here's what you need to know:
SALES: Net sales rose to 6.91 billion pounds ($9.07 billion) in
the half year ended Dec. 31 from GBP6.53 billion, and analysts'
expectations of GBP6.78 billion.
OPERATING PROFIT: Operating profit was GBP2.43 billion for the
half year compared with GBP2.19 billion a year earlier, and
analysts' forecasts of GBP2.31 billion.
WHAT WE WATCHED:
INVESTOR RETURNS: Diageo announced that its board had approved
an extra GBP660 million of share buybacks, taking the total amount
for fiscal 2019 to GBP3 billion. During the first half of the year
it bought back 46.5 million shares under the program worth GBP1.28
billion.
FORECASTS: The company said it continues to expect a
mid-single-digit rise in organic net sales growth this year and to
expand margins for the three years ending June 30 in line with
previous guidance of 175 basis points.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
January 31, 2019 10:57 ET (15:57 GMT)
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