Weaker US Market & Competitive Pressures in Tequila Weigh Down Diageo’s Q1

Dear Client: Diageo reported flat organic net sales growth globally for the first quarter ended September, with volumes up nearly 3%. Growth in Europe, Latin America and Caribbean, and Africa were offset by weakness from Chinese white spirits and a weaker than expected US consumer environment.  "While we make progress in Q1, we are clearly not satisfied with the current performance and are stepping up our actions with urgency to drive growth while staying focused on what we can manage