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Diageo third-quarter sales fall on Asian weakness

Reuters - UK Focus

LONDON, April 17 (Reuters) - Diageo (LSE: DGE.L - news) reported a 1.3 percent decline in third-quarter organic net sales on Thursday, hurt by weakness in China and political instability in Thailand.

In the three months ended 31 March, the world's largest spirits company saw sales rise in North America, Western Europe and Latin America, but tumble 19 percent in the Asia Pacific region.

The maker of Johnnie Walker Scotch and Smirnoff vodka has a stake in China's Shuijingfang, a maker of baiju, the native white spirit whose sales are being hammered by a government crackdown on gift-giving aimed at fighting corruption. (Reporting by Martinne Geller in London; editing by Jason Neely)