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Diageo third quarter sales up 7%

Published:  23 July, 2008

Diageo has seen net sales grow by 7% in the nine-month period ending March 31 2008.

The interim management statement from the drinks company means it remains on course to achieve its full-year profit forecast of 9% organic growth.

Paul Walsh, Diageo chief executive, said third quarter trading was "in line" with the first half.

He added: "We continue to believe that the diversity and strength of our brands, the success of our marketing campaigns, our superior routes to market and our global reach will be key in delivering our performance."

The payment of dividends and ongoing share buy back scheme saw Diageo's net assets drop from 4.2bn to 3.9bn over the nine-month period.