Guinness owner Diageo said on Monday it has made a strong start to its fiscal year 2021, with its US 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. In Europe, Diageo said that off-trade demand remains robust and the on-trade channel has largely re-opened with the easing of lockdown measures in most countries, although the risk of additional restrictions remains where infection rates are worsening. In China, the on-trade channel continues to recover, although larger banqueting occasions are returning more slowly. While the on-trade has also begun to re-open in Africa, India and Latin America and the Caribbean, Diageo said it expect sthe pace of recovery in those markets to be “more gradual”.

Source: The Irish Times September 28, 2020 06:56 UTC