British alcoholic beverages company Diageo, whose North American operations are headquartered in Norwalk, reported that net sales for the year that ended June 30 were down 3 percent to $11.8 billion.
The company said the decline was due to adverse exchange rates and the sale of various brands, including the March sale of Grand Marnier to Italian aperitif maker Campari Group for $760 million.
Underlying organic sales grew 2.8 percent, with gains in nearly every region. U.S. spirit sales grew by 3 percent, with North American whiskey sales up 6 percent.
“This is a good set of results delivering what we set out to achieve this time last year and demonstrating our momentum,” said CEO Ivan Menezes. “Our six global brands” ”” Johnnie Walker, Smirnoff vodka, Baileys, Captain Morgan, Tanqueray and Guinness ”” “and our U.S. spirits business are all back in growth, and we have seen a significant improvement in the performance of our scotch and beer portfolios.”
