Emerging markets help Diageo exceed forecasts

STRONG growth in emerging markets saw Guinness parent company Diageo, the world’s biggest spirits group, beat market forecasts for the third quarter of its financial year.

The group said signs of fragile recovery in mature markets – including North America and a stronger one in its emerging markets of Latin America, Africa and Asia – mean it its sticking to its full-year forecast.

In its third financial quarter to March 31, 2010, the group said underlying sales grew 12%, well ahead of the 6.5% consensus forecast.