Johnnie Walker maker warns of sales fall as demand weakens in key markets

Diageo’s (DGE.L) new boss Dave Lewis cut the company’s annual sales forecast and dividend in his first results presentation earlier this week, sending its shares down 6 per cent and underscoring the scale of his task to turn around the world’s biggest spirits maker.

Lewis, nicknamed “Drastic Dave” for his history of cost-cutting reforms at Tesco (TSCO.L) and Unilever (ULVR.L), took over as CEO at the Johnnie Walker whisky and Guinness beer maker in January.

Announcing six-month earnings...