Diageo Posts Stronger Sales, Weaker RTDs

Diageo's North American operating profit was up 11% on an organic basis in the year ending June 30, 2003, surprisingly driven by their global priority spirits brands, which grew 7% in a tough economy. RTDs R.I.P. Diageo's malternative volume in the US and Canada was down 17%, representing a decline in Smirnoff Ice and the removal of Captain Morgan Gold from the scene. Black Ice is picking up some of the slack, but not enough to put SI in positive