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As I was saying

Diageo’s shares have plunged after the Johnnie Walker and Guinness owner warned of a major slowdown in sales and warned over profits.

Shares in the spirits and drinks maker dropped around 14pc as markets opened – the steepest fall since 1997 – after the company said it expected sales in Latin America and the Caribbean to drop by as much as 20pc in the first half of its current financial year. Latin America accounts for roughly 11pc of the company’s sales.

Chief executive Debra Crew blamed the slowing global economy, which has dented consumer confidence around the world and prompted shoppers to cut back or buy cheaper drinks.

She said: “That caused lower consumption and really more consumer down trading than what the team was expecting.”

Corporate determinations of likely future sales are where we’d first expect to see signs of a recession.

4 thoughts on “As I was saying”

  1. Just be sure to give us the tip off when you think they’ve bottomed. They would fit well in my planned anti-woke portfolio.

  2. Buying shares is gambling for a lot of folk who pick their own stocks.
    A bit like currency trading which apparently is 20* the amount of goods and services traded between different currency areas, so the vast majority of the action is gambling.
    It makes me smile that gambling platform shares such as CMCX, LSE, HL and PP should be freely traded by gamblers.

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