Diageo, Maker of Johnnie Walker, Reports $3.48 Billion Earnings

Diageo (DEO), maker of drinks including Guinness and Johnnie Walker, reported pre-tax earnings of £2.24 billion ($3.48 billion) for the year to the end of June, a 12% increase from a year earlier.

Sales rose 5% from a year earlier to £9.9 billion, BBC News reported. A strong performance in developing countries helped offset weaker sales in Western Europe and the United States.

"The impact of the global economic crisis varied by market and the strength of the recovery appears to be equally variable," CEO Paul Walsh said.

Diageo has developed a large market for Scotch in South American and beers in Africa. It is also aiming to develop its Scotch sales in China.

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