Guinness maker Diageo braces for a €133 million US tariff hit

Guinness maker Diageo braces for a €133 million US tariff hit

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Guinness maker Diageo braces for a €133 million US tariff hit
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Diageo, a London-listed drinks maker, anticipates a $150 million annual impact from US trade tariffs. The company, known for brands like Guinness and Johnnie Walker, has faced sales struggles and a 21% drop in share price over the past year. To address this, Diageo has initiated a $500 million cost savings program and reported a 5.9% increase in organic net sales for Q3. Despite expecting growth in organic sales, a slight decline in organic operating profit is anticipated for the second half of fiscal 25 due to tariffs.

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