Diageo Posts 7% Fall In Sales


News: UK-based brewer Diageo's Indian subsidiary has reported a 7% year-on-year (y-o-y) decline in sales in the 12 months ended June, reports Economic Times. The company also saw a 5% y-o-y fall in volumes as a result of reduced stock in trade, resulting in the worst sales growth in around six years. Analysts attribute the declining sales to Diageo's over-dependence on Smirnoff Vodka and premium portfolio.

This article is tagged to:
Sector: Food & Drink
Geography: India, India, India, India

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