Diageo wants to increase market share by 50 %

Distillery group Diageo expects its sales to rise over the next few years, and hopes its brands like Baileys, Johnnie Walker, Smirnoff and Tanqueray will raise its market share by 50 %.

Next decade

The British beverage group counts on a 16 % turnover growth for the first half of its financial year 2022, ending in June. At the end of the decade, the group hopes to expand its market share by half (from 4 % to 6 %), Dutch news website nu.nl writes.

Diageo has profited from the end of Covid-related restrictions in many countries, as bars were allowed to reopen and sales spiked. However, the company takes into account that new restrictions may be possible as in a lot of countries the number of positive Covid tests is going through the roof.

In the next four years, the beverage producer expects a growth of 5 to 7 %, but it says that rising inflation figures may weigh down its results.