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Report: Diageo’s H1 Sales Rise 15.8%; Shares Gain Pre-Market
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Report: Diageo’s H1 Sales Rise 15.8%; Shares Gain Pre-Market

According to a report published by Reuters, global alcoholic beverages maker Diageo PLC’s (NYSE: DEO) sales increased 15.8% to £8 billion in the first half ended December 31, 2021.

The rise was primarily driven by increased demand from individual customers, as they stocked up alcohol at home during COVID-19-induced lockdown. As lockdowns eased and bars reopened in Europe and North America, they increased orders to restock.

Operating profit rose 22.5% to £2.7 billion and operating margin expanded 190 basis points.

About Diageo

Based out of London, Diageo owns more than 200 brands of spirits and beer in 180 countries. Its brands include Johnnie Walker, Smirnoff, Baileys, Captain Morgan, Tanqueray, and Guinness. The company has production units in over 140 locations across the world.

DEO stock closed 1.4% down on Wednesday. However, it was trading 0.6% up during Thursday’s pre-market session, at the time of writing.

Price Target

Overall, the stock has a Hold consensus rating based on 2 Buys, 1 Hold and 1 Sell. The average Diageo stock price prediction of $236 implies 19.1% upside potential. Shares have gained 25.4% over the past year.

Positive Sentiment

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Diageo, with 8.1% of investors on TipRanks increasing their exposure to the stock over the past 30 days.

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