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Group sales for the year ending June 30 were £9,780m and operating profit was £2,574m - up 2 per cent on the previous year. Diageo said cost reduction programmes helped offset a 14 per cent organic increase in marketing spending in the second half of the year.
Commenting on the results, Paul Walsh, chief executive of Diageo, said: “Our performance was much stronger in the second half than in the first: our performance in the developing markets drove overall growth while markets in North America and Europe remained weak.”
