“Resilient” Diageo defies increasing cost pressure

The head of Guinness manufacturer Diageo expressed optimism in view of “ongoing cost pressures” as well as economic and geopolitical uncertainty.

In one of her first public statements since the death of her predecessor, Sir Ivan Menezes, aged 63 in June, Debra Crew – who was appointed on July 1 – said the company was “well positioned” to deliver revenue growth of 5 to 7 Percent to achieve cents by 2025.

The 52-year-old crew said Diageo was resilient and could overcome the headwinds caused by the economy.

“As I take the helm, I look forward to leading our teams around the world and the many growth opportunities we see ahead of us,” Crew said ahead of Diageo’s annual meeting.

“While we expect challenges in the operating environment to remain amid ongoing cost pressures and geopolitical and macroeconomic uncertainty, we will move quickly and agilely and continue to invest in marketing and innovation.”

Optimistic: Debra Crew was appointed head of Guinness manufacturer Diageo on July 1st

“I am confident in our company’s resilience and our ability to weather these headwinds.”

Diageo shares rose 0.5 percent.