Johnnie Walker and Guinness maker Diageo has scrapped a key sales target amid growing uncertainty over US tariffs and volatile consumer demand.
The spirit giant has said it is talking with the US Government over upcoming tariff policies that could “impact” its sales recovery.
It said the confirmation over the weekend that tariffs will be imposed, although delayed for at least a month, “adds further complexity” to its ability to predict future trading.
Diageo said its tequila and Canadian whisky brands are expected to be particularly affected.
It came as the London-based company revealed that net sales dipped by 0.6 per cent to 10.9 billion dollars for the six months to December 31st, as an increase in organic sales was dragged back by “unfavourable” currency exchange rates.
Reported operating profit declined 4.9 per cent for the period.
In Great Britain, the…
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