Drinks Giant Scores Higher Profits

Diageo PLC, the world's Number 1 alcoholic drinks group, said it was on track with its full-year target for underlying operating profit to grow by at least 7 per cent after the first quarter. The British owner of Smirnoff vodka and Red Stripe beer said it gained market share in the North American market in the July-September period. Europe was mixed, however, with a double-digit percentage rise in Russian sales offset by a weaker market in Spain and slower sales of Guinness in the U.K. Source.