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Diageo, Britvic and Greencore sales surge and Treatt orders rise

By 28/01/2022No Comments

Scotch, tequila and beer and ‘premium plus’ brands drove sales up in Diageo’s results for the six months ended 31 December 2021, although it reported growth across all categories.

Europe yielded the strongest organic volume growth (23%), with organic net value sales up 27%. 

Growth in the region was fuelled by the recovery of the on-trade, particularly in Britain, Southern Europe and Ireland, plus resilient consumer demand in the off-trade, where Diageo continued to gain market share.

Spirits net sales grew 24%, with broad-based growth across scotch, vodka, Baileys, gin, rum and raki. The success had been underpinned by the spirits category gaining share of total beverage alcohol and premiumisation, Diageo reported.

Net sales of beer grew 44%, driven by a strong increase in Guinness as on-trade restrictions eased in Ireland and Britain.

In the UK specifically there had been broad-based growth across vodka, driven by Smirnoff No.21 Red and the launch of Smirnoff Raspberry Crush, Baileys and rum, partially offset by a decline in gin. Ready to drink grew by more than a third, reflecting positive category momentum and innovation.

Diageo’s interim performance at a glance

Net sales: +20% organic growth to €7.96bn versus the same period in 

Operating profit before exceptionals: +25% organic growth to €2.7bn

Britvic

At-home sales showed strong growth for Britvic in its first quarter (Q1) trading statement to 31 December, with the out-of-home market bouncing back from the impact of pandemic-related restrictions. Britain led the way, delivering revenue growth of 17.1% 

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