‘Resilient’ Diageo ignores rising cost pressures

By City and Finance Reporter

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‘Resilient’ Diageo ignores rising cost pressures Share or comment on this article:

Updated: 17:20 EDT, September 28, 2023

The boss of Guinness maker Diageo was optimistic about “continuing cost pressure” as well as economic and geopolitical uncertainty.

In one of her first public statements since her predecessor, Sir Ivan Menezes, died at age 63 in June, Debra Crew, who was appointed on July 1, said the company is “well positioned” for revenue growth. sales of 5 to 7 percent. cent by 2025.

Crew, 52, said Diageo was resilient and could weather headwinds caused by the economy.

“As I take the helm, I am excited to lead our teams around the world and the many growth opportunities we see in front of us,” Crew said ahead of Diageo’s annual meeting.

‘While we expect operating environment challenges to persist, with continued cost pressure and geopolitical and macroeconomic uncertainty, we will move forward with speed and agility and continue to invest in marketing and innovation.

Optimistic: Debra Crew appointed head of Guinness maker Diageo on July 1

“I am confident in the resilience of our business and our ability to weather these headwinds.”

Diageo shares rose 0.5 percent.

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