Diageo Improves Price/Mix in H1
The big takeaways from Diageo's first half results (6 months ended Dec 31)? Price mix improved as the company reduced promotional spend at the off-premise in the US. As a result, Diageo's spirits brands lost -1 share point. At the same time, Diageo increased marketing spend by 35% behind strategic spirits brands "to build the brand equity as we move away from promotional support," said chief Paul Walsh.
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