Guinness maker Diageo misses first-half sales estimates

The admission knocked investor confidence and put a spotlight on the new Chief Executive

In November, Diageo warned that sales in Latin America and the Caribbean were set to decline by more than 20%. Picture Getty

Diageo warned of further troubles in Latin America, adding to investor concerns a build-up of unsold stock in the region would be hard to clear.

The maker of Guinness, Johnnie Walker whisky and Tanqueray gin also posted a slight decline in organic net sales, just missing analyst estimates, and pointed to a drop in North America - its biggest market, where the company has been losing market share.