Aug 5 (Reuters) - Diageo ( DEO ), the world's biggest
spirits maker, forecast on Tuesday fiscal 2026 organic sales
growth to be similar to fiscal 2025 including the impact of U.S.
tariffs, and raised its cost-savings target to about $625
million.
The maker of Johnnie Walker whisky and Smirnoff vodka is
looking for a new chief and finance head to turn around its
financial and share performance, and guide it through a plan
announced in May to cut $500 million in costs and make
substantial asset sales by 2028.
"Macroeconomic uncertainty and the resulting pressure on
consumers continues to weigh on the spirits sector," Diageo ( DEO ) said
in its first set of results under interim CEO Nik Jhangiani.
Diageo ( DEO ) said it expects organic sales to fall slightly in the
first half of 2026, with growth more weighted towards the second
half.
(Reporting by Shashwat Awasthi; Editing by Subhranshu Sahu)