Drinks giant Diageo reported a 2.8% drop in organic sales in the first half of its 2026 fiscal year due to weak demand in North America and China.

Diageo reported a net sales decline of 1.4% to $20.3 billion for the year end 30 June 2024 which the company pinned on unfavourable foreign exchange and inflation.

Johnnie Walker owner Diageo is expecting to see a decline in profit in the first half of fiscal 2024, due to a “weaker performance” in Latin America and Caribbean (LAC).