LONDON, Feb 29 (Reuters) – Diageo, the world’s
largest spirits company, promoted Ivan Menezes to a new role of
chief operating officer on Wednesday, in a move that could see
him eventually take over from 56-year old chief executive Paul
Menezes, 52, has been president of Diageo’s biggest region
North America since 2004, and will take up his new role on March
1. He will lead Diageo’s operating business globally, making him
the leading internal front-runner for the top job.
LONDON, Feb 28 (Reuters) – The world’s biggest spirits
groups were late to exploit demand from emerging markets and a
wave of acquisitions over the next few years looks likely as
they play catch-up.
The likes of Diageo (DGE.L: Quote, Profile, Research) and Pernod Ricard (PERP.PA: Quote, Profile, Research)
delayed their entry to the emerging markets party because they
assumed drinkers in China, India and Mexico would not pay up for
premium whiskies and vodkas in preference to local spirits.
LONDON, Feb 27 (Reuters) – Primark-owner Associated
British Foods expects growth in its half year profits to
be driven by its discount fashion chain, which has gained as
under-pressure British shoppers seek out bargain prices, and by
a strong performance from sugar.
Western European shoppers have cut back on spending as
unemployment has risen and wage rises stagnate, but Primark
which earns a third of the group’s profits, has faired better
than most with its offer of cheap chic along the high street.
NEW YORK/LONDON, Feb 24 (Reuters) – Mead Johnson
and Danone have teamed up to bid for Pfizer’s
$10 billion infant nutrition business, pitting them in a
two-horse race against Nestle in the next auction
round due March 5.
Mead and Danone have secured Pfizer’s permission to bid
together after weighting up a joint approach for several weeks
in a move to boost their firepower and allow them to overcome
antitrust concerns, sources familiar with the situation said.
LONDON (Reuters) – British American Tobacco (BATS.L: Quote, Profile, Research), the world’s second-biggest cigarette maker, increased its share buyback to 1.25 billion pounds after it raised prices and saw strong growth in emerging markets to help boost full-year earnings.
The London-based maker of Dunhill, Kent, Lucky Strike and Pall Mall cigarettes bought back 750 million pounds of shares in 2011 and has raised its 2012 program, confident it has growth ahead and firepower for acquisitions.
LONDON, Feb 23 (Reuters) – British American Tobacco
, the world’s second-biggest cigarette maker, increased
its share buyback to 1.25 billion pounds ($2.0 billion) after it
raised prices and saw strong growth in emerging markets to help
boost full-year earnings.
The London-based maker of Dunhill, Kent, Lucky Strike and
Pall Mall cigarettes bought back 750 million pounds of shares in
2011 and has raised its 2012 programme, confident it has growth
ahead and firepower for acquisitions.
LONDON, Feb 15 (Reuters) – The world’s top yoghurt
maker Danone now sells half its goods in emerging markets, and
from beer to holidays, Europe’s consumer industry depends ever
more heavily on the rising wealth of Brazilians, Russians,
Indians and Chinese.
Danone and Heineken, the world’s
third-largest brewer, are two of the most exposed consumer
companies to sluggish European economies, but both targeted
emerging markets to overcome increasingly gloomy home markets in
their annual results on Wednesday.
LONDON, Feb 14 (Reuters) – World No 1 hotelier
InterContinental Hotels is looking to emerging markets
and especially China to drive future growth after a recovery in
the United States and a string of new Chinese hotel openings
helped push 2011 profits up 26 percent.
The hotelier, home to Crowne Plaza and Holiday Inn as well
as the InterContinental brand, said business was improving in
the U.S, led by a healthier economy and job creation in a region
which makes around two-thirds of the group’s profit.
LONDON, Feb 9 (Reuters) – Diageo, the world’s
biggest spirits group, said strongly growing emerging markets
and a slow recovery in North America helped to offset weakness
in Europe, which prompted it to give a cautiously upbeat outlook
The British maker of Johnnie Walker whisky and Smirnoff
vodka said it expected the emerging markets of Latin America,
Africa and Asia to continue to grow, was encouraged by North
America, while Europe had now stabilised with flat sales.
LONDON, Feb 8 (Reuters) – British consumer goods group
Reckitt Benckiser has launched a major sales push into
fast-growing emerging markets with a focus on health and hygiene
brands like Nurofen and Dettol to offset sluggish European and
North American markets.
New Chief Executive Rakesh Kapoor, who took over last
September after Bart Becht’s shock decision to retire, said on
Wednesday the group would raise marketing as it aims to get half
of its “core” sales from emerging markets by 2016.