1329 GMT - Diageo's third-quarter update seems positive amid current challenging environment, Goodbody analyst Fintan Ryan says in a research note. The U.K. spirits maker reported a 5.9% increase in organic net sales for its fiscal third quarter to March and reiterated its guidance for the year as a whole, at a time when U.S. President Trump's tariffs and a slowdown in alcohol consumption take center stage. The group also unveiled a restructuring program and aims to deliver $500 million in cost savings over three years. "We expect this announcement to be taken well by the market given the clear focus on self-help measures in the uncertain wider backdrop," the analyst says. Shares fall 1.5%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
May 19, 2025 09:29 ET (13:29 GMT)
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