Diageo — owner of Smirnoff, Guinness, Captain Morgan and other brands — reports that its global sales fell 6% in the first quater of the financial year 2009/2010. However, the company reiterated its forecast for «low single digit» organic growth in operating profit.

Digeo continues to implement the restructuring programme that aims to deliver £120 million in cost savings. The company’s global marketing budget in the 2008/2009 financial year lost 9% due to the media deflation. By October 14 shares of the drink maker were also going down losing 2,76%.

via Marketing Week