Drinks maker Diageo forecasts 5%-7% sales growth for fiscal 2023-25

(Reuters) – Diageo expects organic sales growth to be between 5% and 7% for fiscal 2023-2025, compared with the 4% to 6% growth during 2017-2019, the world’s largest spirits maker said on Tuesday as it laid out its medium-term targets.

The Johnnie Walker whisky maker, part of the UK’s blue-chip FTSE 100 index, expects organic net sales growth of at least 16% in the first half of fiscal 2022 and organic operating profit growth to be ahead of sales growth.

“While we expect inflationary pressures to increase, we also expect to benefit from operating leverage, premiumisation, revenue growth management and productivity gains,” Chief Financial Officer Lavanya Chandrashekar said.

(Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)

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