US drink sales help lift Diageo profits
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Diageo, the world's biggest maker of alcoholic drinks, has said that its net profit surged by 42 percent to 1.908 billion pounds during its financial year, boosted by strong sales in the United States.
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Diageo, the world's biggest maker of alcoholic drinks, said on Thursday that net profit advanced 8.9 percent in the first half of the group's financial year, boosted by performance abroad.
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SABMiller PLC, the world's second-largest brewer by volume, said Thursday that strong sales helped net profit more than double in the first half of the fiscal year.
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Dutch brewer Heineken NV reported a   14 percent rise in first-half operating profit, beating   forecasts, after strong sales growth in the Americas and   eastern Europe.
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The brewing company posted a higher quarterly profit, driven by stronger shipments of beer in the U.S., higher prices and demand for its imports.
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Profits got a boost despite sluggish sales from the challenging environment.
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Procter & Gamble, the consumer products company, said quarterly profit jumped 14 percent, boosted by strong sales and a gain from the sale of its juice business.
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Adolph Coors Co. said Thursday its earnings rose 4.3 percent in the third quarter from a year ago as higher beer prices and favorable exchange rates helped more than offset a decline in the amount of beer sold.
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Molson Coors Brewing Co.   said on Thursday that quarterly net income rose, helped by higher pricing and volume growth.
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Diageo Plc, the world's biggest   alcoholic drinks group, reported a 10 percent rise in   underlying earnings on Thursday but its shares fell on dashed   hopes that the group might raise current year targets.
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Wine and spirits company Brown-Forman Corp.   said on Thursday quarterly net profit rose, helped by an asset sale and strong sales of premium brands such as Jack Daniel's Tennessee Whiskey.
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Brown-Forman Corp. , which sells products ranging from Jack Daniels whiskey to Lenox china, on Thursday posted a better-than-expected 67 percent jump in earnings as aggressive marketing boosted sales of premium spirits and new wines.
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The nationâs largest brewer posted a 11 percent rise in profit as it sold more beer at higher prices.
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Anheuser-Busch Cos. Inc. , the  largest U.S. brewer, on Wednesday posted better-than-expected  quarterly earnings helped by strong summer sales in the United  States as well as growth overseas.
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C&amp;C Group Plc, the maker of Tullamore Dew whiskey that held its initial public offering in May, said first-half profit more than doubled after the sale of a business helped cut debt and reduce interest charges.
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Diageo, the world&#39;s biggest maker of alcoholic drinks, said on Thursday that group net profit slid by 22 percent in 2006/07 from its previous financial year as the company was hit by higher taxes.
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A wine glut in the US has hit profits at beer and wine company Foster&#39;s during the first half of 2004. The Australian company has been looking to expand its wine business but suffered as a surplus of US grapes forced many producers to cut prices.