Diageo (#DGE) – CEO Ivan Menezes to “retire” from board, COO Debra Crew to become CEO
- 2023-03-28 06:46:34
A year ago I bored you all by observing that Diageo (DGE) is the sort of pension fund holding that even a non-drinker such as myself can get excited about. My first bad day level was a sub thirty-five quid share price and we hit that a month or two later. And I note this morning, after the publication of its H1 numbers, that we have hit that level again.
You should never mind a bit of hindsight from the 0.001% of people who did something a bit bonkers and made a fortune. I guess I should have theoretically invested a couple of thousand quid in bitcoin eight or ten years ago and would now look like a genius. Whilst I am sure there are a few people who have made themselves absolute fortunes this way, I reckon 99% of people who did buy a few bitcoin back then, probably did not make much money (even if they could log into their electronic link successfully). Famously I sold my ASOS (ASC) shares a gazillion years ago after doubling my money, which was not very smart from the perspective of where the shares ended up fifteen years or so later. I am still living and learning 26 years into my actual investment life. And that brings me back to Diageo (DGE) which had its latest numbers last Thursday…
Hello, Share People. What's not to like about the latest six-month report from drinks giant Diageo (DGE)? It shows an encouraging return to growth, good cash generation and an increased dividend. So how has the mighty Diageo fended off the big drop in sales that must have followed closures of pubs, restaurants and nearly every other hospitality venture?
Back in April, I mused about how the spirits behemoth Diageo (DGE) was a great insight into the broader markets. Interestingly, the share price today is within one percent of where it was when I wrote about the company more than five months ago – which tells you just how much we have been treading water at multiple levels over that period. Anyhow, the above observation includes factoring in a 5% odd share price bump today. So what did the owner of the Johnnie Walker, Bell's, Smirnoff, Bailey's and Gordon's brands among many others say today in a pre-AGM trading commentary to induce such a reaction? And what can be discerned about the wider view of the world?...