Stock Market News

Spirits giant Diageo seeks to sell beer portfolio – Axios

2023.12.05 14:50


© Reuters. FILE PHOTO: Pints of Guinness are seen in a pub, in Dublin, Ireland March 20, 2023. REUTERS/Clodagh Kilcoyne/File Photo

(Reuters) – Diageo (LON:), the world’s largest spirits maker, is seeking to divest its beer portfolio, except for flagship brand Guinness, Axios reported on Tuesday, citing sources familiar with the firm.

Beer sales of 3.36 billion pounds ($4.23 billion) accounted for just over 14% of total sales at Diageo for the year ended June 30, whereas Spirits sales contributed a mammoth 81%.

Diageo is looking to sell beer brands including Smithwick’s, Kilkenny and Harp Lager, based in Ireland, and Tusker in Kenya, among others, Axios reported.

Diageo did not immediately respond to Reuters’ request for comment on the report.

The Johnnie Walker whisky maker in November warned of a drop in first-half operating profit growth on weakness in some regions.

($1 = 0.7948 pounds)

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 75,915.34 0.99%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,903.78 2.91%
tether
Tether (USDT) $ 1.00 0.07%
solana
Solana (SOL) $ 199.70 5.56%
bnb
BNB (BNB) $ 595.61 0.16%
usd-coin
USDC (USDC) $ 1.00 0.01%
xrp
XRP (XRP) $ 0.548894 1.18%
dogecoin
Dogecoin (DOGE) $ 0.197384 2.17%
staked-ether
Lido Staked Ether (STETH) $ 2,901.97 2.92%
cardano
Cardano (ADA) $ 0.42657 15.32%
tron
TRON (TRX) $ 0.161109 0.11%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,445.42 3.65%
the-open-network
Toncoin (TON) $ 4.86 0.29%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 0.65%
avalanche-2
Avalanche (AVAX) $ 27.48 1.44%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,932.34 1.16%
weth
WETH (WETH) $ 2,907.72 3.11%
chainlink
Chainlink (LINK) $ 12.77 3.25%
bitcoin-cash
Bitcoin Cash (BCH) $ 371.41 1.53%
sui
Sui (SUI) $ 2.30 2.00%
polkadot
Polkadot (DOT) $ 4.27 3.90%
leo-token
LEO Token (LEO) $ 6.34 3.06%
usds
USDS (USDS) $ 0.994767 0.66%
litecoin
Litecoin (LTC) $ 70.99 0.18%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,053.72 2.83%
uniswap
Uniswap (UNI) $ 8.73 2.51%
near
NEAR Protocol (NEAR) $ 4.18 0.26%
aptos
Aptos (APT) $ 9.61 0.17%
pepe
Pepe (PEPE) $ 0.000011 3.10%
bittensor
Bittensor (TAO) $ 500.29 3.19%
internet-computer
Internet Computer (ICP) $ 7.71 1.73%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.40 0.87%
dai
Dai (DAI) $ 1.00 0.01%
monero
Monero (XMR) $ 164.44 0.83%
stellar
Stellar (XLM) $ 0.101101 3.10%
ethereum-classic
Ethereum Classic (ETC) $ 20.13 0.13%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.12%
whitebit
WhiteBIT Coin (WBT) $ 19.58 1.36%
kaspa
Kaspa (KAS) $ 0.112481 5.56%
aave
Aave (AAVE) $ 180.25 2.53%
crypto-com-chain
Cronos (CRO) $ 0.099389 15.44%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.343148 0.31%
blockstack
Stacks (STX) $ 1.63 2.61%
okb
OKB (OKB) $ 40.20 0.28%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.03%
dogwifcoin
dogwifhat (WIF) $ 2.32 1.19%
arbitrum
Arbitrum (ARB) $ 0.569107 0.36%
filecoin
Filecoin (FIL) $ 3.71 0.73%
mantle
Mantle (MNT) $ 0.653016 3.26%