Irish sales flat as Diageo plans €1.7bn share buyback round

Drinks giant Diageo has reported that net sales in Ireland were flat during its last financial year, but has increased medium-term group profit targets and announced a £1.5bn (€1.7bn) share buyback programme.

As part of its full-year results, covering the 12 months to the end of June, Diageo — which owns the likes of Guinness, Baileys, Gordon’s and Smirnoff — said its performance in Ireland was mixed with net sales flat.

Guinness sales were up 2% here (globally sales of the stout were “broadly flat”) but that was mainly driven by continued success of the Hop House 13 lager brand which continued to grow market share.