10 November 2015

Diageo reiterates full year guidance ahead of Investor Conference in New York

Diageo will hold an Investor Conference in New York beginning with a reception on the evening of 10 November 2015, followed by a full day of presentations on 11 November. The presentations will cover Diageo's North America business, its biggest and most profitable region; Diageo's position in the key categories of scotch and beer; the rejuvenation of Smirnoff; the way in which Diageo is accessing the mainstream spirits opportunity in emerging markets and how Diageo is embedding a productivity culture across the company.

In his presentation Ivan Menezes, Chief Executive will say:

"The year has begun well. Momentum has improved and the changes we have made are now driving stronger volume growth with depletions ahead of shipments as we benefit from our focus on embedding our sell out culture. Trading in the first four months is in line with our expectations and therefore we continue to believe that we can deliver improved top line growth, driven by stronger volume growth, and modest margin improvement for the full year. In the first half, as we outlined in our results presentation in July, we expect net sales in North America to be down 2% as the result of our move to a replenishment system for innovation launches. This will impact Diageo's top line growth and margin in the first half with stronger performance in the second half."

ENDS

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About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, JεB, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice.

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