Diageo Increase Profits

Diageo is reporting a 6% increase in six-monthly net sales and operating profit of premium drinks - after deducting excise duties - and following the cost implications of restructuring. This is the first year that Diageo is posting results solely as a premium drinks company and the company adds that overall volume also rose by 3%. Operating profit grew from £1.1BN in the same period last year to £1.162BN in 2003.