Shares fall in world’s largest spririts company as consumers seek cheaper brands
The Guinness to Johnnie Walker drinks maker Diageo has issued a profit warning as a result of cash-strapped customers in Latin America and the Caribbean consuming less alcohol and seeking cheaper brands.
Shares in the world’s largest spirits company plunged more than 11% in early trading on Friday, making it the biggest faller in the FTSE 100, as investors worried that the trend in the region might spread to other markets.
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