Diageo hit by slower growth in Christmas quarter

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THE maker of Smirnoff and Guinness warned conditions in emerging markets were “more challenging” following slower growth in its Christmas quarter.

London-based Diageo, whose brands include Johnnie Walker whisky, has been impacted by China’s crackdown on extravagant gifts to officials and weakness in some other markets, most notably Thailand and Nigeria.

Diageo’s shares fell yesterday following the announcement.

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