Reported 1 day ago
Diageo announced a strategy to cut $500 million in costs and sell significant assets by 2028 as it strives to improve performance and manage debt. This includes adjustments in trade investment and advertising, while retaining the Guinness brand. The company aims to decrease its leverage ratio from 3.1 to between 2.5 and 3 times by the end of 2024. Despite facing challenges in markets like the U.S. and Europe, Diageo expects to achieve about $3 billion in free cash flow annually from fiscal 2026.
Source: YAHOO