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Diageo sees impact on sales from Indian highway liquor ban

Reuters - UK Focus

Sept 20 (Reuters) - Britain's Diageo (LSE: DGE.L - news) , the maker of Johnnie Walker whisky and Smirnoff vodka, said it expects its organic first-half sales growth to be impacted by the timing of Chinese New Year and a ban on selling alcohol along highways in India.

India's top court imposed a ban on liquor outlets within 500 metres of national and state highways in April, a move that could impact revenue for liquor makers such as Diageo and Pernod Ricard.

However, Diageo stood by its target for sales growth at a mid-single digit rate and its organic operating margin improvement objective of 175 basis points over the three years to June 2019.

"Our expectations on overall performance for the year remain unchanged," the world's largest spirits company said. (Reporting by Rahul B in Bengaluru; editing by Jason Neely)