Diageo Plc’s sales growth cooled, especially in North America, after a post-pandemic boost wore off.
Sales advanced 6.5% on an organic basis in the 12 months through June, just ahead of analysts’ estimates, after slowing down in the second half. Volumes fell in the second half, particularly in the US, its biggest market.
The maker of Johnnie Walker whiskey and Smirnoff vodka appointed Debra Crew as chief executive officer in June, replacing Ivan Menezes, who died after an illness that month. Menezes joined Diageo when it was created in 1997 and transformed it into the world’s biggest premium drinks company.
The stock has declined 1% this year, trailing rivals Pernod Ricard and Remy Cointreau SA.
Read More: Former Diageo CEO Ivan Menezes Dies After Brief Illness
