British beverages giant Diageo PLC (DEO, DGE.L) reported third-quarter organic net sales growth of 4% with volume down by 1% and strong price/mix. Reported net sales advanced 7% in the quarter, benefitting from the acquisition of Shui Jing Fang and Ypióca and a small positive foreign exchange impact.
For the nine-month period, the company said it delivered 5% organic net sales growth with volume up 1%, in line with the first-half performance of fiscal 2013. Reported net sales growth for nine months was 6%, also against the comparable prior period.
In addition, the company said it remains confident that its performance continues to be in line with its medium term guidance.
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