(Reuters) – Diageo, the world’s top spirits maker, withdrew its medium-term organic sales growth target on Tuesday, citing macroeconomic and geopolitical uncertainty hurting the pace of its recovery.
The maker of Johnnie Walker whisky and Guinness beer had earlier forecast medium-term organic net sales growth of 5% to 7%.
CEO Debra Crew said tariffs in the U.S. announced over the weekend added to “further complexity in our ability to provide updated forward guidance”.
Diageo’s organic sales grew 1% in the first-half, beating a 0.4% growth expected by analysts in a company-compiled poll.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Varun H K)
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