Diageo Not Phased by Slowdown in US Economy

Despite a tough fourth quarter for the US economy, Diageo's first half results ending December 31 remained solid. Albeit a bit moderate, US sales growth of 5% was driven by 1% volume growth, 2%-3% average price increases for spirits, and innovation. As a result, mix was up about 4%. Larry Schwartz, president of Diageo North America, said December was the only month where sales saw an "interruption" due to Hurricane Sandy, the Fiscal Cliff etc. "But we don't see this as a trend."

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