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Diageo reports better than expected half-year sales growth

Reuters - UK Focus

LONDON, Jan 26 (Reuters) - Diageo (LSE: DGE.L - news) , the world's largest distilled drinks company, reported on Thursday better than expected sales growth in the last six months, helped by improvements in its U.S. business and the strong U.S. dollar.

The maker of Johnnie Walker Scotch and Smirnoff vodka said sales rose 4.4 percent in the six months ended Dec (Shanghai: 600875.SS - news) . 31, above the average of analysts' estimates for growth of 3.4 percent.

Earnings per share, before one-off items, rose 21 percent to 62 pence, as higher operating profit and favourable exchange rates more than offset the impact of disposals and a higher tax rate.

The company said it remains confident it can achieve its full year goal of "consistent mid-single digit top line growth and 100 basis points of organic operating margin improvement in the three years ending 30 June 2019". (Reporting by Martinne Geller; Editing by Greg Mahlich)