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April 17, 2014
09:28 EDTDEODiageo reports organic net sales down 1.3% in Q3
Diageo said organic net sales declined 1.3%. Volume declined 2% in the nine months ended March 31 and 1% in the third quarter. As a result of recent developments in Venezuela, including the new currency exchange mechanism and the related reporting implications, Diageo has translated the groupís Venezuelan operations for the quarter and for the nine months at a rate of $1 = VEF49.81. Reported net sales were down 7.4% in the nine months due to the impact of adverse currency movements and the termination of the distribution agreement with Jose Cuervo. CEO Ivan Menezes said, "Our performance reflects the challenging environment we are operating in. Consumers in North America are most resilient, as are consumers of our reserve brands in most markets."
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January 27, 2015
07:18 EDTDEODiageo extends payment delay to 90 days for small suppliers, Telegraph says
Diageo (DEO), owner of Guinness and Johnnie Walker, notified suppliers it will delay payment for 90 days on all new contracts and tenders from February 1 onwards, reports the Telegraph. The notice also stated suppliers would have access to Santander (SAN) financing if any monetary issues arise due to the new policy. The Forum of Private Business plans to challenge Diageo on the matter. Reference Link

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