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Diageo on target to achieve growth targets

Published:  26 August, 2008

Diageo is expected to deliver on its target of 9% operating profit growth when it announces its full-year results on Thursday.

Diageo is expected to deliver on its target of 9% operating profit growth when it announces its full-year results on Thursday.

Bernstein analyst Trevor Sterling has predicted operating profits of £2.37 billion - compared with last year's £2.16 billion in the year to June 30. But the analyst also warned that the credit crunch is likely to have resulted in a "continued modest decline" in volume growth in the US.

Diageo has so far shrugged off fears that the economic slowdown in the US is having an impact on its spirits business, and has been keen to highlight a strong performance from its beer brands in Africa and continued growth of scotch in Latin America, South Africa and the Middle East.

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