Diageo announced a 5% growth in annual profits today, an increase that Chief Executive Paul Walsh largely attributes to its activities in emerging markets.
While sales fell in Greece, Spanish and Ireland (all economies that have struggled in the last few years), Diageo’s acquisition of the leading Turkish spirits company Mey Icki, and its performance in North America and Asia-Pacific have offset the downturn in European trade.
This makes them the latest in a line of successful global companies who are spreading the risk of underperformance in developed markets such as Western Europe by expanding into countries further afield, or the path less trodden by competitors. (more…)
There has recently been a further sign of recovery in Europe’s biggest economy – German exports were up more than 3% in June, and the country has experienced unprecendented growth of 2.2% from April to June this year.
A weakening of the Euro in recent months coupled with a strong demand for German goods in Asia has helped to boost exports. (more…)
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