Helped in part by strong North American sales, adult beverage behemoth Diageo PLC reported improved earnings for the fiscal year ended June 30.
The London-based company, whose North American headquarters are in Norwalk, reported a net profit of $3.48 billion for the year compared with $2.93 billion a year earlier, on net sales that rose 15 percent to $15.77 billion. In North America, its largest and most profitable market, organic sales were up 3 percent from a year ago; beer volume dropped 1 percent as Americans continued to show a preference for wine and spirits.
Diageo also announced that Ursula Burns, who chaired the board of Stamford-based Xerox from 2010 to 2017 and was its CEO from 2009 to 2016, will become a nonexecutive director effective April 2, 2018.
Last month the company announced it was acquiring George Clooney”™s high-end tequila brand Casamigos for up to $1 billion.