Bengaluru: Diageo Plc, which owns United Spirits Ltd (USL), said its India net sales grew 2% in the year ended 30 June. India sales grew despite the hit from the government’s demonetisation move and the Supreme Court ruling banning the sale of alcohol near highways, Diageo said. But organic net sales of its popular (economy) brands declined 5%, particularly within the rum category. Rum accounts for 7% of the British company’s net sales and grew 4% at a global level. However, net sales of rum in India fell 8%, driven by McDowell’s No.1 rum.

Source: Mint July 27, 2017 16:18 UTC