World: Diageo stands by medium-term sales and profit targets

Diageo, the world's largest spirits company, stood by its medium-term sales and profit targets on May 8, saying the year has progressed well, Reuters reported.

The maker of Smirnoff vodka and Johnnie Walker Scotch said it still expected mid-single digit revenue growth and a 100 basis point improvement in its operating margin, excluding any impact of acquisitions or divestitures, in the three years ending fiscal 2019.

The comments came ahead of an investor conference the company will host in London on May 9.

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