Diageo has announced its preliminary results, year ended 30 June, reporting net sales of £17.1 billion, increased 10.7%, primarily reflecting strong organic net sales growth, and favourable impacts from foreign exchange.

White rum has long been a star ingredient of cocktails and with consumers now demanding better quality drinks, it is ripe for premiumisation. 

Rémy Cointreau suffered a 32.8% year-on-year sales decline in the three months to June 30 as a result of the coronavirus pandemic.

Heineken has reported a 52.5% decline in first-half earnings after the Covid-19 pandemic took a toll on its on-trade business.