LONDON (Reuters) - Alcoholic drinks maker Diageo (L:DGE) reported higher sales for its just-ended financial year, returning to growth after two flat years marred by issues such as an emerging market slowdown and a shift in U.S. consumer tastes from vodka to bourbon.
The maker of Johnnie Walker Scotch whisky, Smirnoff vodka and Guinness beer on Thursday said net sales grew 2.8 percent on a like-for-like basis in the year ended 30 June.
Earnings per share, excluding one-time items, were 89.4 pence.
Analysts on average were expecting sales growth of 2.8 percent and earnings of 88 pence per share, according to a company-supplied consensus.
Looking ahead, Diageo stood by its prior forecast for sales to grow at a mid-single-digit rate starting this year.
Like-for-like sales first slowed in 2013 and were roughly flat in 2014 and 2015.