Shares slide after Diageo profit warning following decline in Latin American markets

Sales in the Latin America and Caribbean (LAC) market are now expected to decline by more than 20% in six months 

Ivan Menezes, chief executive of Diageo

Guinness maker Diageo said on Friday that it expected organic operating profit growth to decline in the first half of its current financial year due to its "materially weaker" performance in Latin America and the Caribbean.

Shares in the world's largest spirits company fell 8.5% to 2,970 pence in early trading, making it the top loser on London's blue-chip FTSE index.