Diageo enjoys boost in profits

Diageo at Leven
Diageo at Leven

THE area’s largest employer, Diageo, has reported a jump in annual profits, thanks in part, the firm says, to strong sales and acquisitions in emerging markets.

Pre-tax profit for the year to the end of June was £3.1bn, up 32 per cent on the £2.4bn the company made in the previous year.

Sales rose 10 per cent to £14.6bn.

Diageo has sites in both Leven and Windygates and confirmed its commitment to the area some time ago by creating a new bottling plant in the area.

The maker of brands such as Guinness, Smirnoff, Baileys and Johnnie Walker did particularly well in Latin America.

Net sales in emerging markets, which account for nearly 40 per cent of Diageo’s business, grew 15 per cent over the year, while operating profits grew 23 per cent.

Diageo’s chief executive Paul Walsh said: “Diageo is a strong business, getting stronger and the results we released show that very clearly.”