Diageo says Greece and Spain drinking less

on 15/10/10 at 10:33 pm

Industry

Hard-hit Greek and Spanish consumers appear to have refrained from drowning their sorrows in international alcohol following rises in duty.

Diageo, the UK-listed drinks group, said net sales in the biggest casualties of the eurozone slowdown dropped “markedly” in the quarter to end-September compared with the same period last year. However North America, the biggest market, and Asia put in stronger performances, helping overall net sales to rise by 5 per cent on an organic year-on-year basis to £2.06bn ($3.3bn).

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