Cur­rency swings to hurt Di­a­geo profit

China Daily (Canada) - - TORONTO -

Di­a­geo Plc said ad­verse cur­rency shifts will re­duce full-year op­er­at­ing profit by 150 mil­lion pounds ($230 mil­lion), more than it had ex­pected pre­vi­ously. The maker of John­nie Walker scotch and Guin­ness stout ex­pects “mod­est or­ganic” profit mar­gin im­prove­ment as vol­ume im­proves, it said in a state­ment on Wed­nes­day. Lon­don-based Di­a­geo forecast in July that ex­change-rate moves would strip 100 mil­lion pounds from its op­er­at­ing profit.

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