Diageo warns of global trade tension troubles
Diageo is in our portfolio because it has defensive qualities which can support it even in an economic downturn. It also has a good track record of growth which we believe can continue for the foreseeable future. This is the ultimate guide to news updates from the king of booze.
Diageo’s (LON: DGE) AGM statement contains a warning about the state of international relations: “we would not be immune from significant changes to global trade policy and continue to monitor this closely”, says chief executive Ivan Menzies ahead of the company’s AGM.
The global drinks giant has never claimed to be immune from the threats of the likes of Brexit or US-China tensions, but this is the first time Mr Menzies has explicitly warned about the potential disruption to his business.
For now, Diageo expects sales growth between 4% and 6% in the year to June 2020, with…
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