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Diageo PLC — Interim / Quarterly Report 2012
Jan 17, 2012
5249_ffr_2012-01-17_6ab7e3f9-194e-43e9-af4a-1c1c0fc634ef.zip
Interim / Quarterly Report
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6-K 1 v245517_6k.htm FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
16 January 2012
Commission File Number: 001-10691
DIAGEO plc
( Translation of registrant’s name into English )
Lakeside Drive, Park Royal, London NW10 7HQ
( Address of principal executive offices )
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
10 January 2012
Revised segmental information for prior reporting periods
On 25 May 2011 Diageo announced changes to its reporting regional structure. From 1 July 2011 two autonomous regions, Diageo Latin America and Caribbean and Diageo Africa, replaced the International region. The Global Travel and duty free operations are now reported within the five geographical regions in which the external sales take place. The Middle East business has become part of Asia Pacific.
As a result of this change Diageo now reports the following operating segments externally:
· North America
· Europe
· Africa
· Latin America and Caribbean
· Asia Pacific
· Corporate
In addition, for the year ending 30 June 2012, changes have been made to the allocation of specific corporate items better reflecting the geographic segments for which they are in respect of.
As a consequence of these changes the figures for the operating segments for prior periods have been restated.
Revised segmental information for the years ended 30 June 2011 and 2010 and the six month period ended 31 December 2010 are provided below.
In addition, organic growth percentages by segment have been restated for the year ended 30 June 2011.
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Volume
| As reported units million | Analysis of International units million | Restated units million | As reported units million | Analysis of International units million | Restated units million | |||
|---|---|---|---|---|---|---|---|---|
| North America | 51.6 | 0.7 | 52.3 | 51.8 | 0.7 | 52.5 | ||
| Europe | 38.5 | 2.0 | 40.5 | 39.2 | 2.1 | 41.3 | ||
| International | 44.3 | (44.3 | ) | - | 40.3 | (40.3 | ) | - |
| Africa | - | 23.1 | 23.1 | - | 21.1 | 21.1 | ||
| Latin America and Caribbean | - | 15.7 | 15.7 | - | 14.1 | 14.1 | ||
| Asia Pacific | 13.1 | 2.8 | 15.9 | 12.1 | 2.3 | 14.4 | ||
| 147.5 | - | 147.5 | 143.4 | - | 143.4 |
| As reported units million | Analysis of International units million | Restated units million | ||
|---|---|---|---|---|
| North America | 28.0 | 0.3 | 28.3 | |
| Europe | 21.5 | 1.0 | 22.5 | |
| International | 22.7 | (22.7 | ) | - |
| Africa | - | 11.7 | 11.7 | |
| Latin America and Caribbean | - | 8.3 | 8.3 | |
| Asia Pacific | 6.8 | 1.4 | 8.2 | |
| 79.0 | - | 79.0 |
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Sales
| As reported £ million | Analysis of International £ million | Restated £ million | As reported £ million | Analysis of International £ million | Restated £ million | |||
|---|---|---|---|---|---|---|---|---|
| North America | 3,853 | 42 | 3,895 | 3,853 | 34 | 3,887 | ||
| Europe | 4,190 | 89 | 4,279 | 4,371 | 89 | 4,460 | ||
| International | 3,384 | (3,384 | ) | - | 3,222 | (3,222 | ) | - |
| Africa | - | 1,764 | 1,764 | - | 1,582 | 1,582 | ||
| Latin America and Caribbean | - | 1,293 | 1,293 | - | 1,364 | 1,364 | ||
| Asia Pacific | 1,735 | 196 | 1,931 | 1,442 | 153 | 1,595 | ||
| Corporate | 70 | - | 70 | 70 | - | 70 | ||
| 13,232 | - | 13,232 | 12,958 | - | 12,958 |
| As reported £ million | Analysis of International £ million | Restated £ million | ||
|---|---|---|---|---|
| North America | 2,094 | 20 | 2,114 | |
| Europe | 2,312 | 45 | 2,357 | |
| International | 1,773 | (1,773 | ) | - |
| Africa | - | 907 | 907 | |
| Latin America and Caribbean | - | 708 | 708 | |
| Asia Pacific | 915 | 93 | 1,008 | |
| Corporate | 38 | - | 38 | |
| 7,132 | - | 7,132 |
4
Net sales
| As reported £ million | Analysis of International £ million | Restated £ million | As reported £ million | Analysis of International £ million | Restated £ million | |||
|---|---|---|---|---|---|---|---|---|
| North America | 3,324 | 42 | 3,366 | 3,306 | 34 | 3,340 | ||
| Europe | 2,614 | 89 | 2,703 | 2,759 | 89 | 2,848 | ||
| International | 2,747 | (2,747 | ) | - | 2,627 | (2,627 | ) | - |
| Africa | - | 1,357 | 1,357 | - | 1,228 | 1,228 | ||
| Latin America and Caribbean | - | 1,063 | 1,063 | - | 1,123 | 1,123 | ||
| Asia Pacific | 1,181 | 196 | 1,377 | 1,018 | 153 | 1,171 | ||
| Corporate | 70 | - | 70 | 70 | - | 70 | ||
| 9,936 | - | 9,936 | 9,780 | - | 9,780 |
| As reported £ million | Analysis of International £ million | Restated £ million | ||
|---|---|---|---|---|
| North America | 1,807 | 20 | 1,827 | |
| Europe | 1,444 | 45 | 1,489 | |
| International | 1,415 | (1,415 | ) | - |
| Africa | - | 689 | 689 | |
| Latin America and Caribbean | - | 568 | 568 | |
| Asia Pacific | 616 | 93 | 709 | |
| Corporate | 38 | - | 38 | |
| 5,320 | - | 5,320 |
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Marketing spend
| As reported £ million | Analysis of International £ million | Restated £ million | As reported £ million | Analysis of International £ million | Restated £ million | |||
|---|---|---|---|---|---|---|---|---|
| North America | 502 | 6 | 508 | 472 | 4 | 476 | ||
| Europe | 390 | 13 | 403 | 412 | 10 | 422 | ||
| International | 368 | (368 | ) | - | 302 | (302 | ) | - |
| Africa | - | 140 | 140 | - | 119 | 119 | ||
| Latin America and Caribbean | - | 184 | 184 | - | 151 | 151 | ||
| Asia Pacific | 278 | 25 | 303 | 233 | 18 | 251 | ||
| 1,538 | - | 1,538 | 1,419 | - | 1,419 |
| As reported £ million | Analysis of International £ million | Restated £ million | ||
|---|---|---|---|---|
| North America | 268 | 2 | 270 | |
| Europe | 225 | 5 | 230 | |
| International | 177 | (177 | ) | - |
| Africa | - | 73 | 73 | |
| Latin America and Caribbean | - | 84 | 84 | |
| Asia Pacific | 143 | 13 | 156 | |
| 813 | - | 813 |
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Operating profit before exceptional items
| As reported £ million | Analysis of International £ million | Corporate costs £ million | Restated £ million | As reported £ million | Analysis of International £ million | Corporate costs £ million | Restated £ million | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 1,255 | 17 | 3 | 1,275 | 1,170 | 13 | 1 | 1,184 | ||||||||
| Europe | 778 | 28 | (10 | ) | 796 | 859 | 30 | (8 | ) | 881 | ||||||
| International | 804 | (804 | ) | - | - | 771 | (771 | ) | - | - | ||||||
| Africa | - | 330 | 3 | 333 | - | 304 | (3 | ) | 301 | |||||||
| Latin America and Caribbean | - | 336 | (18 | ) | 318 | - | 355 | (19 | ) | 336 | ||||||
| Asia Pacific | 208 | 93 | (2 | ) | 299 | 176 | 69 | (5 | ) | 240 | ||||||
| Corporate | (161 | ) | - | 24 | (137 | ) | (225 | ) | - | 34 | (191 | ) | ||||
| 2,884 | - | - | 2,884 | 2,751 | - | - | 2,751 |
| As reported £ million | Analysis of International £ million | Corporate costs £ million | Restated £ million | |||||
|---|---|---|---|---|---|---|---|---|
| North America | 723 | 9 | 3 | 735 | ||||
| Europe | 471 | 15 | (2 | ) | 484 | |||
| International | 468 | (468 | ) | - | - | |||
| Africa | - | 174 | 2 | 176 | ||||
| Latin America and Caribbean | - | 227 | (9 | ) | 218 | |||
| Asia Pacific | 129 | 43 | (2 | ) | 170 | |||
| Corporate | (64 | ) | - | 8 | (56 | ) | ||
| 1,727 | - | - | 1,727 |
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Organic growth for the year ended 30 June 2011
| Increase/(decrease) | Volume — As reported | Restated | As reported | Restated | As reported | Restated | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | |||||||
| North America | - | - | 2 | 3 | 3 | 3 | ||||||
| Europe | (2 | ) | (2 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) |
| International | 9 | n/a | 14 | n/a | 13 | n/a | ||||||
| Africa | n/a | 7 | n/a | 11 | n/a | 10 | ||||||
| Latin America and Caribbean | n/a | 12 | n/a | 18 | n/a | 17 | ||||||
| Asia Pacific | 9 | 10 | 13 | 13 | 9 | 11 | ||||||
| Total | 3 | 3 | 5 | 5 | 5 | 5 |
| Increase/(decrease) | Marketing spend — As reported | Restated | As reported | Restated | ||||
|---|---|---|---|---|---|---|---|---|
| % | % | % | % | |||||
| North America | 7 | 8 | 8 | 9 | ||||
| Europe | (4 | ) | (3 | ) | (7 | ) | (8 | ) |
| International | 23 | n/a | 19 | n/a | ||||
| Africa | n/a | 15 | n/a | 18 | ||||
| Latin America and Caribbean | n/a | 27 | n/a | 22 | ||||
| Asia Pacific | 13 | 15 | 13 | 20 | ||||
| Total | 8 | 8 | 5 | 5 |
- Operating profit before exceptional items
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Net sales are after deducting excise duties. See the company's annual report on Form 20-F for the year ended 30 June 2011 filed with the US Securities and Exchange Commission (SEC) for an explanation of organic movement calculations and further definitions, disclosures and information.
Contacts
| Investor enquiries to: | +44 (0) 20 8978 4326 |
|---|---|
| Angela Ryker Gallagher | +44 (0) 20 8978 4911 |
| [email protected] |
| Media enquiries to: | +44 (0) 20 8978 2528 |
|---|---|
| Kirsty King | +44 (0) 20 8978 6855 |
| [email protected] |
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Editor notes
Diageo is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, beer and wine. These brands include Johnnie Walker, Crown Royal, JεB, Buchanan's, Windsor and Bushmills whiskies, Smi rnoff, Cîroc and Ketel One vodkas, Baileys, Captain Morgan, Jose Cuervo, Tanqueray and Guinness.
Diageo is a global company, with its products sold in more than 180 countries around the world. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE). For more information about Diageo, its people, brands, and performance, visit us at Diageo.com. For our global resource that promotes responsible drinking through the sharing of best practice tools, information and initiatives, visit DRINKiQ.com.
Celebrating life, every day, everywhere.
Forward-looking statements
This document contains 'forward-looking statements'. These forward-looking statements can be identified by the fact that they do not related only to historical or current facts. In particular, forward looking statements include all statements that express forecasts, expectations, plans, outlook and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability or cost of financing to Diageo, anticipated cost savings or synergies, the completion of Diageo's strategic transactions and restructuring programmes, anticipated tax rates, expected cash payments, outcomes of litigation, anticipated deficit reductions in relation to pension schemes and general economic conditions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including factors that are outside Diageo's control. All oral and written forward-looking statements made on or after the date of this document and attributable to Diageo are expressly qualified in their entirety by the 'risk factors' contained in Diageo's annual report on Form 20-F for the year ended 30 June 2011 filed with the US Securities and Exchange Commission (SEC). Any forward-looking statements made by or on behalf of Diageo speak only as of the date they are made. Diageo does not undertake to update forward-looking statements to reflect any changes in Diageo's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Diageo may make in any document it publishes and/or files with the SEC. All readers, wherever located, should take note of these disclosures. The information in this document does not constitute an offer to sell or an invitation to buy shares in Diageo plc or an invitation or inducement to engage in any other investment activities. Past performance cannot be relied upon as a guide to future performance.
- ENDS -
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
| Diageo plc | ||
|---|---|---|
| (Registrant) | ||
| Date: 16 January 2012 | By: | /s/ J Nicholls |
| Name: J Nicholls | ||
| Title: Deputy Company Secretary |
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