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Sept 28 (Reuters) - London-based spirits maker Diageo
said on Monday it has made a strong start to its fiscal
year 2021, with its U.S. business performing ahead of
expectations, as many countries ease their COVID-19
restrictions.
"Our outlook for the first half of fiscal 21 has improved
since the year-end, reflecting the good start to the year,
particularly for our US business," Chief Executive Officer Ivan
Menezes said.
The maker of Johnnie Walker whisky and Smirnoff vodka said
it continues to expect sequential improvement in organic net
sales and operating profit compared to the second half of fiscal
2020, which ended on June 30. However, on a year-over-year
basis, it expects lower sales and margin dilution compared to
the first half of fiscal 2020.
The company's shares rose more than 5%.
(Reporting by Muvija M in Bengaluru and Martinne Geller in
London; Editing by Ramakrishnan M.)
Diageo (DGE)
