Diageo reaps benefit from cost cutbacks
China Daily | Updated: 2009-08-28 08:17
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The drinks giant has been hit by recent destocking - stores and distributors keeping fewer of its products - in the United States and weak demand in Europe. Bloomberg News |
LONDON: Diageo PLC, the world's largest spirits maker, posted a 7 percent rise in full-year net profit yesterday, benefiting from favorable currency exchange rates and cost-cutting amid weaker demand for many of its key products.
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