Diageo set to announce stunted profits

A cocktail of negative trading factors are likely to have impacted upon Smirnoff vodka-to-Guinness company Diageo’s annual results on Thursday.

The outbreak of SARS, weakening consumer demand in the US because of the Iraq war and general economic weakness are expected to have pegged profits to £2.12bn (€3.06bn), up slightly from £2.04bn (€2.95bn) a year earlier.