Diageo, the world of spirits, publishes a profit above expectations in respect of its third quarter, driven by a rebound in sales in emerging markets.
The maker of Smirnoff vodka and Guinness among others has announced an increase of 12% of its revenue stream while the consensus anticipated growth of 6.5% only.
In comparison, its French rival Pernod Ricard has reported last week up 16% of its current turnover.
Diageo has confirmed its target of annual growth in the low end of its single-digit operating earnings, which will require a strong rebound in the period from January to June after the 3% decline posted during the Part of the tax year.
"As we have seen some signs of recovery, both fragile markets mature and more robust in emerging markets, our performance during the quarter benefited from a comparison with the weak third quarter of last year," wrote the Chief Executive Paul Walsh in a statement.
Diageo and Pernod had indeed suffered from the global economic slowdown and a vast wave of destocking in the U.S. in early 2009 at the height of the financial crisis.
At the London Stock Exchange, the action Diageo gained 1.3% to 10.96 pounds in early trading while the FTSE lost 0.6%.
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