Spirits giant Diageo slumps after ‘challenging year’

Guinness maker Diageo saw sales and profits slip during a “challenging year” as a weak performance in Latin America continued to drag on the drinks giant.

The FTSE 100 company, which also makes Gordon’s gin and Baileys, saw shares tumble in early trading on Tuesday as a result.

Diageo revealed sales dropped for the first time in around four years, amid weaker demand for scotch and rum.

Reported net sales slid by 1.4 per cent to $20.3 billion (€18.7 billion) over the year to June 30th...