Diageo's chief executive said the drinks giant was seeing good growth momentum across the business as it reported growth in first half sales, but the figure was weighed down by foreign exchange rates and the impact of the disposal of assets.
Diageo, whose brands include Guinness, Smirnoff vodka and Johnnie Walker whisky, said organic net sales in the six months ending December 31 grew 1.8 percent, on 1 percent organic volume growth.
The London-headquartered drinks giant said the weakness of many currencies against sterling, in particular the euro, the Venezuelan bolivar and the Brazilian real were only partially offset by the strengthening of the U.S. dollar. Shares of Diageo were trading 0.1 percent lower on Thursday.
Speaking to CNBC on Thursday, Diageo's Chief Executive Ivan Menezes told CNBC on Thursday that he was pleased with the group's progress.
"We've got very good momentum in the business and I'm pleased with these results...If you look under it, it's very broad-based. Our top six brands are all in growth and these are about half our business and they're growing about 4 percent."
Menezes said that the Scotch whiskey part of the business was back in growth, its beer business grew 7 percent and the emerging markets grew 4.5 percent. As such, he noted that there was "resilience and momentum and that's why I have the confidence that this momentum will improve as we go into the second half and into the medium-term."