Figures bring Diageo cheer

DIAGEO, the world's largest producer of alcoholic drinks, said today that sales rose seven per cent in the nine months ending March 31.

The firm, which has its Scottish base at Edinburgh Park, said net sales growth was in line with results in the first half, despite current economic conditions.

Chief executive Paul Walsh, said: "We are, therefore, maintaining our guidance for nine per cent organic operating profit growth for the current fiscal year."

Meanwhile, Stella Artois and Becks brewer InBev reported a 0.7 per cent like-for-like rise in first quarter core profit today, below analysts' expectations. The company said earnings before interest, tax, depreciation and amortisation came in at £1.52 billion.