‘Resilient’ Diageo shrugs off rising cost pressures

The boss of Guinness maker Diageo struck an upbeat note in the face of ‘ongoing cost pressure’ as well as economic and geopolitical uncertainty.

In one of her first public statements since her predecessor Sir Ivan Menezes died aged 63 in June, Debra Crew – who was appointed on July 1 – said that the company is ‘well-positioned’ to deliver sales growth of 5 per cent to 7 per cent between now and 2025.

Crew, 52, said Diageo was resilient and can navigate the headwinds caused by the economy.

‘As I take the helm, I am excited to lead our teams around the world and by the many growth opportunities we see in front of us,’ Crew said ahead of Diageo’s annual meeting.

‘While we expect operating environment challenges to persist, with ongoing cost pressure and geopolitical and macroeconomic uncertainty, we will move with speed and agility and continue to invest in marketing and innovation.

‘I am confident in the resilience of our business and our ability to navigate these headwinds.’

Diageo shares rose 0.5 per cent.