Half year results stated:
First half organic net sales growth will be hit by the Chinese New Year timing and a highway ban in India but management still expect to deliver full year in line with expectations.
Investment is focused on US spirits and Scotch and therefore operating margins will be Half Two weighted as well though as above overall expectations remain unchanged.
Continued guidance is still set for mid single digit top line organic and +175bps of organic EBIT margin improvement for 3 years to 30 June.
As of 5.18am the stock was trading down c.1.39% at c.2461p