Strong First Half For Diageo

Diageo has reported a healthy set of first half numbers. The Group said that net sales in the six months to the end of December 2016 rose by almost 15%. Net and operating profits were also up, by over 6% and 28% respectively. The top line benefited from the devaluation of the Pound since the EU referendum with ForEx adding £853m to the top line. On a regional basis, Latin America and the Caribbean shone in the first half, with the regions's sales jumping by 20%. North America, Diageo's largest region, posted a 16% rise in sales, with Europe, Russia & Turkey and Africa up 13%. Asia Pacific saw its net sales in the period increase by 12%.