logo
Plus   Neg
Share
Email

Diageo FY Pre-tax Profit Rises; Board Approves Share Buyback - Quick Facts

Diageo PLC (DGE.L,DEO) reported pre-tax profit of 3.74 billion pounds for the fiscal year ended 30 June 2018, up from 3.56 billion pounds in the prior year.

Profit to equity shareholders of the parent company increased 14 percent to 3.02 billion pounds from 2.66 billion pounds last year. Basic earnings per share rose to 121.7 pence from 106.0 pence last year.

Operating profit before exceptional items grew 8 percent to 3.82 billion pounds from 3.60 billion pounds in the previous year. Earnings per share before exceptional items were 118.6 pence, compared to 108.5 pence a year ago.

Net sales for the year rose 1 percent to 12.16 billion pounds from 12.05 billion pounds last year. Organic growth was 5 percent.

The company's board has approved a share buyback programme to return up to 2.0 billion pounds to shareholders during the year ending 30 June 2019.

The board also recommended a final dividend increase of 5 percent, bringing the full year dividend to 65.3 pence per share.

Looking ahead, Diageo said its financial performance expectations are unchanged.

The company expects to continue to invest in the business to deliver its medium-term guidance of consistent mid-single digit organic net sales growth and 175 basis points of organic operating margin improvement in the three years ending 30 June 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Workers at Volkswagen AG's only factory in the U.S. have voted against forming a factory-wide union, dealing yet another blow to efforts by the United Auto Workers union to organize plants owned by foreign automakers. According to preliminary results announced on Friday, 833 workers at Volkswagen's plant in Chattanooga, Tennessee, reportedly voted against union representation. International Business Machines Corp. and Cúram Software, acquired by the tech giant in 2011, have agreed to pay $14.8 million to settle alleged violations of the False Claims Act, the Justice Department said in a statement. According to the DOJ, IBM and Cúram allegedly made material misrepresentations to the State of Maryland during a contract award process in 2011 and 2012. Lyrics website Genius Media Group Inc. has accused Google of copying some song lyrics directly from its website without permission, for the tech giant's search results. Genius told the Wall Street Journal that it is seeing falling traffic for the past several years as Google has been publishing lyrics in search pages on its own platform, with some of them lifted directly from the Genius website.
Follow RTT