Guinness owner Diageo plummets to lowest share in four years
Shares at Guinness owners Diageo have plummeted to its lowest level since November 2020 amid weakening sales.
The share price of the British multinational alcohol manufacturer fell by 2%, a drop that follows Diaego’s profit struggles in recent months.
In December, speculation grew that the drinks giant was looking to sell beer brands, such as Irish tipples Kilkenny and Harp, Tusker, Senator and SeyBrew.
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The business announced that in comparison to its spirits and liqueurs portfolio, the sales of beer was “materially weaker”, totalling £3.4bn for that financial year and accounting for just 14% of the company’s total revenue.
Alongside its revelation of diluted profits, Diageo also warned of slower growth for the second half of the year, as it downgraded its forecast.
In 2022, the Diageo sold Ethiopian beer brand Meta Abo to Castel’s BGI for an undisclosed sum, after later registering a loss of £95m.
2 Comments. Leave new
Sales of beer materially weaker totally only £3.4bn…… good grief, just how much is my husband spending on that stuff?
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