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Diageo Sales Boosted by Weak Pound

Increased performance in the U.S. spirits business drove sales growth.

Diageo (DEO) - Get Free Report has posted better-than-expected sale growth in the second half of 2016, after a Brexit-induced fall in the pound boosted company sales. This 18% fall in sterling, mixed with an improved performance in the U.S. spirits business, drove sales growth and increased the scotch-maker's sales by 4.4%.

Diageo CEO Ivan Menezes responded to the news stating, "The conditions in the U.S. right now point to higher consumer confidence."