On Thursday (30 July), Diageo will report its full-year results. Here, just-drinks takes a look at how the group has fared in its final quarter, the three months to the end of June:
- At the start of April, Diageo agreed a deal to take full control of UB Group’s South African sorghum beer business, United National Breweries (UNB)
- The company reported flat sales in its Q3 figures, released on 16 April, saying emerging markets remained “tough”
- On the same day, the president of the company’s Africa operations, Andy Fennell, announced his departure, prompting editor Olly Wehring to take a closer look at the company
- Towards the end of the month, Diageo said it was reviewing its relationship with United Breweries Holdings and Vijay Mallya over India’s United Spirits, after the division’s board called on the entrepreneur to stand down as its chairman
- Reports at the beginning of May suggested the group was considering the divestment of its wine business, although just-drinks learned that a sale was less likely than had been suggested
- On a conference call with analysts in the same month, Diageo said Latin America had been split into two as destabilising currency fluctuations saw free-trade zones (FTZs) fall behind to domestic performance
- Towards the end of the month, Diageo parted company with creative agency BBH, after 15 years. It was announced that all Baileys and Gordon’s activity would be covered in-house, for the next 12 months
- At the end of May, Diageo declined to comment on an Indian government investigation into United Spirits’ books as fresh reports emerged over the subsidiary’s chairman, Vijay Mallya, and alleged loans made from the unit
- In June, the firm refused to be drawn on speculation of a possible takeover bid from Brazilian investment company 3G Capital. We thought the takeover seemed unlikely
- In mid June, the head of Diageo’s operations in North America, Larry Schwartz, confirmed his intention to retire
- A couple of days later, the company confirmed the pending departure of the MD of its Australian operations
- On 19 June, the firm announced two regional director replacements at its Global Travel and Middle East (GTME) unit
- By late-June, it looked as though the “bad newsflow” for the company was finally abating
- At the end of June, reports suggested the company was set to sell its Gleneagles resort in Scotland. The move was confirmed a few days later
- Finally, on the last day of the month, the CFO of Diageo, Deirdre Mahlan, was confirmed as the replacement for Larry Schwartz as head of the North America division
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