Drinks giant Diageo hinted today that the slump in demand for ready-to-drink brands was bottoming out as it posted a 2% rise in annual operating profits.

DRINKS group Diageo, the owner of Guinness, said sales have continue to slow down.

Drinks giant Diageo today backed the £7.4bn (€11bn) takeover of Allied Domecq by French rival Pernod Ricard after being allowed to cherry-pick key brands.

Drinks giant Diageo today confirmed it had expressed interest in funding one of the rival companies vying to take over Allied Domecq.

Guinness is back in vogue with drinkers after figures today showed sales of the stout rising for the first time since 2001.

Drinks giant Diageo today reported profits in line with market hopes but said the task of improving sales in Europe remained its biggest challenge.

Lakeland Dairies, Ireland's second largest dairy processing co-operative announced today that it has entered into a supply contact with Diageo Group to provide fresh cream for the Baileys brand, from the its processing facility at Bailieborough, Co Cavan.

Drinks giant Diageo today said it saw some signs of an upturn in worldwide trading conditions as it reported annual underlying profits had risen by 6%.

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