British drinks giant Diageo controls some 40% of the Scotch whisky market, so when that market sneezes, Diageo gets a nasty head cold.
So it is based on last year’s sales. The crown jewel of Diageo’s whisky holdings, Johnnie Walker, reported a modest 1% sales increase, driven mostly by the pricier green, gold, platinum and blue brands. Selling more of those upmarket expressions compensated for a fall in sales by volume (actual amount of liquid shipped) of 4%.
The bright spot for Diageo in its Scotch portfolio was its single malts, which grew by 8%. Bourbon, spearheaded by Bulleit, also did well. Bulleit should see its own distillery and bottling plant open in Shelbyville, Kentucky later this year.