FOCUS ON PREMIUM BRANDS HELPS DIAGEO IN THE US.

Diageo’s first-half profit rose 21% with help from the United States and further cost reductions despite weaknesses in Europe. Net income increased $2 billion with revenue up 8.3%. The company’s spirits market share grew 0.2 points to 28% in the U.S. along with strong growth in Guinness, Red Stripe and Smithwicks. U.S. volume rose 4% and total beer sales jumped 18%. Chief Paul Walsh said, “We continue to capitalize on our opportunities in the US where our market leadership and superior route to market have led to further volume share gains of 0.4 percentage points in spirits.” Net sales were up 7% in the U.S. due to “growth in priority brands and pricing actions,” according to Nick Rose CFO.