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DIAGEOHALF
YEARRESULTS11FEBRUARY2010
PAULWALSHCEO
Managingthebusiness
inachallengingenvironmentOrganicnetsalesdown2%Organicoperatingprofit*down3%Favourablecurrencymovementsledtoreportednetsalesup3%,operatingprofitbroadlyflatWhilebasicepsisdown10%,epspre-exceptionalsanddiscontinuedoperationswasup5%Interestcostsreducedby￡100millionFocusonworkingcapitalreductionledtoanincreaseof￡517millioninfreecashflowto￡0.9billion5%increaseintheinterimdividend36monthsended31December2009.Netsalesissalesafterdeductingexciseduties.*Excludesexceptionalitems.
BuildingastrongerbusinesswellpositionedforthefutureEffectivecostmanagementFocusedmarketingandinnovation
havebuiltstrongerbrandsEnhancedsalescapabilitieshavedeliveredstrongercustomerrelationships4
5Q2showedimprovementmainlyreflecting
theeasingofcomparisons2%Organicnetsalesgrowth(7)%(2)%(6)%
6Mixedperformanceacrosstheregions6monthsended31December2009.*Organicgrowth.(6)%(5)%10%8%4%(1)%(2)%Netsalesgrowth*
Focusoncashinthehalfhasdelivered
exceptionalresultsCashgenerativebusinessTightmanagementofcashinhalfFreecashflowincreased￡517mto￡904m7
8Categorybreadthtodeliveronconsumertrendsinallregions6monthsended31December2009.Netsalesissalesafterdeductingexciseduties.%ofregionalnetsales%ofDiageo
netsalesWineRTDsOtherspiritsRumVodkaBeerScotcGreatmarketingincreasedbrandequityCreatingmemorableexperiences,buildingthelong-term
healthofbrandsIntelligentinvestment,prioritisingthemostattractiveopportunitiesBenefitingfrommediaratedeflationandrefocusinginvestment
tothemostrelevantchannelsandglobal/regionalplatforms9
10Greatmarketingincreasedbrandequity
11Arthur’sDay
Tacticalopportunitiesharnessed
throughinnovationProductstailoredforevolvingmarkettrendsDeclinesindisposableecreatedemand
forsmallerpacksize
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